Trump’s tax reform plan was ‘disappointing,’ Rep. Delaney says

By Congress FOXBusiness

Trump's tax plan promises cuts, but no way to offset the deficit

Rep. John Delaney (D-MD) explains why he will not support President Trump's tax plan, which will supposedly cuts taxes for the middle class and corporations.

Rep. John Delaney (D-Md.) on Friday said that he was “disappointed” by President Trump’s tax proposal.

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“Unfortunately it’s not really a tax reform proposal, it’s really just a tax cut proposal and that’s probably the most disappointing thing to my mind,” he told FOX Business’ Neil Cavuto on ‘Cavuto: Coast to Coast.’

Sen Chuck Schumer (D-N.Y.), who came out against Trump’s plan, said that it should be renamed “wealth-fare.”

Delaney explained what Trump will need to include in his tax plan to gain Democratic support.

“I think the things Democrats are looking for in tax reform are things like earned income tax credit, we’d like to see the corporate rate come down as well, but we’d like to see it paid for by eliminating deductions that it’s fiscally responsible,” He said. “I’ve got 40 Democrats, 40 Republicans who want to fix the international tax system and pair it with infrastructure investment.”

Delaney, who is also running for president in 2020, said that the central challenge the country is facing is not a tax issue, but a jobs issue.

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“I think the central challenge in the economy right now is a human capital issue. We have seven million jobs in this country that are unfilled. And they are not filled because companies can’t find people with the skills. That’s the skills gap issue,” he said.
 

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