Ahead of Vice President Mike Pence’s visit to Council Bluffs, the Iowa Democratic Party is dispelling the misleading premise that the GOP Tax Scam was put in place for anyone but the wealthy donors who line Vice President Pence and Governor Reynolds’ campaign coffers.

“We’re always happy to see middle class and working families get a break, but for Vice President Pence and Governor Reynolds to sell this tax scam as anything other than a massive giveaway for their donors is disingenuous – at best,” said Iowa Democratic Party Chair Troy Price. “This bill is a cheap, election year ploy to whip votes from the middle class then rip those benefits away, leaving our families behind while letting GOP donors and corporations keep their handouts. Our state and our country deserve better than leaders, like Governor Reynolds and Vice President Pence, who use working families as a bargaining chip for campaign donations.”

UNDER THE TRUMP-GOP TAX SCAM, THE TOP 1 PERCENT OF IOWA TAXPAYERS WOULD RECEIVE 25 PERCENT OF THE TAX CUTS NEXT YEAR

By 2019, The Richest 1% Of Iowa Taxpayers Will Receive 25% Of The Tax Cuts Under The Republican Tax Bill. [Institute on Taxation and Economic Policy, 12/16/17]

Washington Post: “Almost All” Of The GOP Plan Tax Cuts For Households Will “Benefit The Wealthiest Families.” “The bill, unveiled by GOP leaders Thursday morning at an elaborate news conference in the Capitol, would slash the corporate tax rate to 20 percent from 35 percent, the most significant in a series of benefits the bill contains for businesses. In addition to the $1 trillion in total tax cuts over 10 years for businesses, the proposal would mean $300 billion in tax cuts for households and families, as well as $200 billion in tax cuts — almost all of which will benefit the wealthiest families — by repealing the estate tax, according to estimates from the nonpartisan Committee for a Responsible Federal Budget.” [Washington Post, 11/2/17]

THE TRUMP-GOP TAX SCAM WAS PROJECTED TO RAISE TAXES ON LOW- AND MIDDLE-INCOME IOWA RESIDENTS BY 2027

The GOP-Trump Tax Bill Would Raise Taxes On Low-And Middle-Income Iowa Residents By 2027. [Institute on Taxation and Economic Policy, 12/16/17]

UNDER THE TRUMP-GOP TAX SCAM, 320,000 IOWA RESIDENTS WOULD BE LIMITED IN THEIR ABILITY TO UTILIZE THE STATE AND LOCAL TAX DEDUCTION

The Republican Tax Bill Would Limit Deductions For State, Local And Property Taxes To $10,000.” “You can deduct just $10,000 in state, local and property taxes: One of the most controversial parts of the GOP tax plan is the push to greatly scale back how much state and local taxes Americans can deduct on their federal income taxes. Under current law, the state and local deduction (SALT) is unlimited. In the final GOP plan, people can deduct up to $10,000 (married couples are also limited to just $10,000). The House initially restricted the $10,000 deduction to just property taxes, but the final bill allows any state and local taxes to be deducted, whether for property, income or sales taxes.” [Wonkblog, Washington Post, 12/15/17]

Under The GOP Tax Plan, 320,000 Iowa Residents Would Be Limited In Their Ability To Use The State And Local Tax Deduction. [Microsimulation Tax Model, Institute on Taxation and Economic Policy, November 201711/9/17]