New Mexico – In a video, Steve Pearce celebrated voting for a bill that would raise taxes on New Mexico families while making false claims about the impact of the bill. According to the Institute on Taxation and Economic Policy, New Mexicans who earn less than $75,000 per year would ultimately see tax increases while top earners will disproportionately benefit from the bill’s tax giveaways.
“Steve Pearce is celebrating the fact that families in our state will be footing the bill for tax giveaways for the wealthiest. New Mexicans won’t forget that Steve Pearce voted for this tax scam, and he’ll have to answer for continuously putting the extreme Republican agenda ahead of New Mexico families,” said Richard Ellenberg, Chair of the Democratic Party of New Mexico.
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.