New Mexico – Today, the Democratic Party of New Mexico called on Congressman Steve Pearce to change his vote on the GOP tax scam during a teleconference with reporters.
During the call, Chair Ellenberg pointed to similarities between this scam and the tax breaks Governor Martinez gave to her corporate donors, which failed to bring the economic boon she promised. During Governor Martinez’s time in office, the state has been at the bottom for education and unemployment and had to manage extreme deficits which resulted in a credit rating drop.
Chair Ellenberg called on Congressman Pearce to do the right thing and vote against the GOP tax scam stating, “In New Mexico, we believe we do better when we work together, and strong communities are built when we support each other. But, this tax bill does none of that–it leaves our families with the burden of paying for giveaways for the wealthiest. If Steve Pearce votes for this tax scam, we will be sure to make sure New Mexicans don’t forget his betrayal when he asks for our vote for Governor next November.”
In New Mexico, Institute on Taxation and Economic Policy points out that the bottom income earners will ultimately see a tax increase while top earners will disproportionately benefit from the bill’s tax giveaways. One analysis showed that families earning less than $75,000 each year would see their taxes increase under this bill, while the richest would receive huge tax breaks.
According to the Tax Policy Center, 82.8 percent of the GOP Tax Scam’s benefit would go to the top 1 percent, and overall, 53.4 percent of American households would see a tax increase. The Committee for a Responsible Federal Budget estimated that the final GOP tax bill would increase the deficit by more than $2 trillion.