Senator Bernie Sanders made a speech following the passage of the GOP tax plan on Tuesday, stating, “What we are seeing today, in an unprecedented way, is the looting of the federal treasury. Today marks a great victory for the very wealthy campaign contributors.”
Sanders spoke for the majority of Americans, when he said:
“Does anybody really believe that when we have such a massive gap in income and wealth inequality that we should be giving 60% of the benefits in this bill to the top 1/10th of 1%? It says a lot about the priorities of the Republican Party when the tax breaks for corporations in this bill are permanent while the tax breaks for working families expire at the end of 8 years.
Sanders explains some of the downsides of the bill include billionaires seeing a huge tax break for themselves, “at the same time as the deficit of this country is driven up by about $1.5 trillion dollars” and that the legislation, according to the non partisan Tax Policy Center, “will provide 83% of the benefits to the top 1%, while increasing taxes on 92 million middle-class households by the end of the decade.”
You can watch Sanders’ full speech above.