White House Condemns Republican Tax Bill as a “Billionaire Giveaway”
Washington, DC – The White House on December 19, 2024, denounced the Republican-controlled Congress’s passage of a tax bill that it claimed would primarily benefit the wealthy.
Press Secretary Karine Jean-Pierre issued a statement condemning the legislation as a “billionaire giveaway” that would exacerbate economic inequality in the country.
“This tax bill is a shameful transfer of wealth from working families to the richest Americans and corporations,” Jean-Pierre said. “It will raise taxes on the middle class while slashing taxes for the wealthy and big business, leaving behind the American people who are struggling to make ends meet.”
The tax bill, which passed along party lines in the House of Representatives and the Senate, would reduce the corporate tax rate from 21% to 15% and eliminate the estate tax. It would also provide tax breaks for wealthy individuals, such as raising the limit on itemized deductions.
The White House estimated that the bill would increase the federal deficit by $1.5 trillion over the next ten years. The Congressional Budget Office estimated that the bill would increase the deficit by $1.9 trillion over the same period.
Jean-Pierre said that the bill was “a betrayal of the American people” and that the White House would explore all options to prevent its passage. The White House could potentially veto the bill, although it would require the support of at least two-thirds of the House and Senate to override a veto.
The Republican Party defended the tax bill, arguing that it would stimulate economic growth and create jobs. However, critics argued that the bill would primarily benefit the wealthy and do little to help the middle class.
The tax bill is the latest in a series of legislative battles between the Republican-controlled Congress and the Democratic White House. The two parties have also clashed over healthcare, immigration, and environmental policy.
The tax bill is expected to be signed into law by President Donald Trump in the coming days.
Statement from Press Secretary Karine Jean-Pierre on Republicans’ Billionaire Giveaway
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