Sen. Chuck Schumer on tax reform: 'This bill hurts the middle class'
WASHINGTON (Sinclair Broadcast Group) - Senate Minority Leader Chuck Schumer, D-N.Y., is warning lawmakers that the current tax bill proposed by the GOP will hurt middle-class families in his state.
He said getting rid of the state and local deductions (SALT) will be devastating to those who need the breaks the most.
"This bill hurts the middle class," he explained.
"The state and local deduction is very important to middle-class New Yorkers because we're a high-tax state. High property tax, high income tax, high sales tax. At least you get to deduct those."
"There's too many people in the middle class. Even those who get a tax break get a small one, where the wealthiest people get a big one. I think it's great we have wealthy people, and I love to see the American dream, people climb the ladder and make money. But they don't need a tax break. It's the middle-class people who do," he said.
Schumer noted he has spoken to House members from New York explaining his view, hoping they come together for a better bill and stop the current one from passing.
While he admits that some middle-class people will ultimately benefit from the tax plan in its current form, the senator believes "many more will be hurt."
"The promise was everyone in the middle class will be helped. You can't do it if you curtail state and local deductibility."
The president expects a bill on his desk before the holiday break.