Sen. McConnell: We Expect Some Senate Dems to Support Tax Reform Bill
Senate Majority Leader Mitch McConnell (R-Ky.) said on "The Daily Briefing" today that he expects to have some Senate Democrats support tax reform.
He told Dana Perino that there are "at least three" Democrats in the Senate who have signaled they're likely to be a "yes" on tax reform.
Earlier today, House Republicans unveiled their tax reform legislation, which preserves the popular 401K retirement account, lowers rates for many individual households but trims deductions for state and local taxes.
McConnell chuckled when Perino played House Minority Leader Nancy Pelosi's (D-Ca.) criticism of the proposal. Pelosi called it "deficit-exploding" and cast it as a "multi-trillion dollar giveaway to the wealthiest and corporations" at the expense of children, seniors and workers.
McConnell said the Washington Post rated the claim as "four Pinocchios," calling it "almost entirely inaccurate."
McConnell said the bill unveiled today would reduce middle-class taxes and business taxes "to prevent our jobs from being exported to other countries. That's the core of the bill."
He said the goal is to send a bill to the president's desk by the end of the year. Earlier today, President Trump called tax reform potentially a "big, beautiful Christmas present" for Americans.
Watch the interview above.
Later on the show, Sen. Chris Van Hollen (D-Md.), a member of the budget and appropriations committees, said the plan is a $2 trillion "windfall" for big corporations, insisting that middle-class families will see higher taxes.
"There are millions of middle-class taxpayers who will see their taxes increase in order to provide tax breaks for multinational corporations," said Van Hollen.
He said there are a number of proposals from the Democratic caucus to help working and middle-class families, specifically with child care costs.
Van Hollen said as a member of the House for years, he listened to Paul Ryan warn repeatedly about the escalating national debt.
Republicans claim economic growth will bring increased revenue and offset the debt increase, but Van Hollen called the argument "funny numbers."
Perino also spoke on the show today to House Speaker Paul Ryan (R-Wis.), who insisted that millionaires are not getting a tax cut.
Like McConnell, he said some he expects some House Democrats to also support the proposal.
Ryan, speaking outside the White House after meeting with the president, said the plan was written with Trump.