SE­NATE DEMS SPELL OUT TAX RE­FORM TERMS

The Denver Post - - BUSINESS -

WASH­ING­TON» Se­nate Democrats and in­de­pen­dents said Tues­day that up­com­ing leg­is­la­tion to re­write the na­tion’s tax code should en­sure the mid­dle class doesn’t pay more and the “top 1 per­cent” doesn’t pay less.

In a let­ter to Repub­li­can lead­ers, in­clud­ing Pres­i­dent Don­ald Trump, 45 of the 48 Se­nate Demo­crat­ics said they won’t sup­port any up­com­ing GOP ef­fort to over­haul the tax sys­tem that de­liv­ers cuts to the top 1 per­cent or adds to the gov­ern­ment’s $20 tril­lion debt.

Repub­li­cans con­trol­ling Congress are gear­ing up to ad­vance their tax mea­sure this fall, promis­ing to lower rates on busi­nesses and in­di­vid­u­als, while clear­ing out many tax breaks and de­duc­tions.

The terms laid out by Democrats are un­likely to tempt Repub­li­cans, who are plan­ning to use a fil­i­buster-proof Se­nate pro­ce­dure to ad­vance the leg­is­la­tion with­out their help. — The As­so­ci­ated Press

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