Reactions to Republican tax plan - WXOW News 19 La Crosse, WI – News, Weather and Sports |

Reactions to Republican tax plan

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La Crosse, WI (WXOW) -

Republican lawmakers released their rewrite of the tax code on November second.

The $1.5 trillion plan would cut the corporate tax rate from 35% to 20% and would establish three tax brackets to replace the seven that exist now.

Republican lawmakers claim the bill will help America compete with the rest of the world, while other lawmakers see it differently.

Congressman Ron Kind (D-WI), US representative for Wisconsin's third district, describes his thoughts regarding the plan, "I'm not a big fan of just more trickle down economics, tax breaks at the top for powerful corporations, wealthy individuals, expecting that to help everyone else,"

Kind elaborates on his concern over the longevity of certain government programs under the new plan, "It must be done in a fiscally responsible manner, so we are not increasing huge budget deficits in the future which then will jeopardize social security and Medicare."

House Republicans hope to pass the legislation before Thanksgiving and will vote on the plan sometime this week.

MORE: Ron Kind

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