Schumer Statement on Reports of Emerging Republican Tax Plan

Washington, D.C. – U.S. Senator Chuck Schumer today released the following statement regarding emerging details of the GOP tax plan ahead of its release:

“Every American who is struggling to save for retirement should shudder at these reports.

“If true, Republicans will be hiking taxes on middle-class Americans’ retirement savings all so that they can line the pockets of the wealthy and biggest corporations.

“Republicans also seemed poised to end the deductibility of state income and sales taxes, raising taxes on middle-class Americans from coast to coast.

“This is one of the most backwards proposals I’ve ever seen. Republicans are literally picking the pockets of middle class taxpayers, all to give a tax break to the wealthy and biggest corporations.”