Blumenthal & Murphy: GOP tax cut plan a ‘train wreck’ for Connecticut

Senator Richard Blumenthal. (FILE- WTNH)

HARTFORD, Conn. (WTNH)– Connecticut’s two Democratic U.S. Senators came out swinging on Friday, saying that both the Republican House and Senate federal tax cut plans are a bad deal for Connecticut.

“This bill is a train wreak for Connecticut’s middle class,” says Sen. Chris Murphy (D-Connecticut).

Both political parties say they want to help the middle class, and despite what President Trump and Republican leaders in in Washington are saying, Connecticut’s two senators say the middle class will take it in the neck.

Related Coverage: What Senate Republicans are proposing in their tax plan

“If you’re making $50,000 a year in this state, and you own a home or ever hope to own a home, your taxes are going up,” Murphy said.

But Certified Financial Planner Joel Johnson says that since most people at that earnings level don’t itemize deductions, they will see a tax cut.

“Doubling the ‘standard deduction’ really helps earners between that $40,000 and $60,000 level, it’s going to be a  real win for them.”

But Senator Richard Blumenthal says that any tax savings middle class taxpayers in Connecticut would see would be short-lived because the the doubling of the standard deduction is phased out.

Related Coverage: House GOP tax plan would add $1.7 trillion to deficit: CBO

“It goes away after five years. This bill gives new meaning to the term ‘bait and switch,” Blumenthal said.

Murphy went further saying, “This is clearly designed to transfer money from blue states to red states, from the middle class to the very rich.”

Murphy says that because the GOP plans either eliminate or limit deductions for property and state income taxes, that adversely affects residents in Connecticut, New York, New Jersey and other states that are represented in the Senate by Democrats.

WTNH NEWS8 provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language or racial slurs, will be banned. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review. Also, you can now block any inappropriate user by simple selecting the drop down menu on the right of any comment and selection "Block User" from there.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s