Sen. Ted Cruz (R-Texas) said Wednesday that the only Americans who will see a tax hike under the GOP’s sweeping tax overhaul will be the rich in New York City and San Francisco.
“The only people whose taxes are going up are the really rich. Every taxpayer, their taxes are going down, except rich people in Manhattan and San Francisco, some of them, their taxes may go up,” Cruz said on the Senate floor early Wednesday morning.
The GOP plan, which passed the Senate by a 51-48 vote early Wednesday, would roughly double the standard deduction for single filers and married couples. Republicans have characterized their plan as a boon for the middle class.
High earners in areas with high state and local taxes may not be able to deduct as much under plan, however, and could pay more overall.
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Cruz: Only rich people in Manhattan and San Francisco will see higher taxes under GOP plan https://t.co/2kx1U8JjaP pic.twitter.com/zMKfkSmICW
— The Hill (@thehill) December 20, 2017
This tax reform bill is a huge victory for middle class families across Texas, and the country. pic.twitter.com/CGdupdtYBa
— Senator Ted Cruz (@SenTedCruz) December 20, 2017
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