Senate Finance Committee Chairman Ron Wyden expressed displeasure on Friday with Republican presidential candidate Donald Trump’s latest campaign promise: eliminating the overtime income tax.
“Donald Trump is losing, and these tax proposals he’s pushing out of desperation are as fake as his tan,” Wyden says in a statement.
The Oregon Democrat who leads the Senate tax-writing panel said the former president “knows Republicans in Congress have no intention of passing this stuff.”
“It’s clear that his newfound concern for working people is a sham because as president, he undermined overtime protections for workers,” Wyden argued.
He added, “You can always count on him treating workers like fools, and he can go around buying them off with empty campaign promises.”
Trump campaign spokesman Steven Cheung fired back at Wyden, telling CNBC that the senator “should not disrespect hard-working Americans or take money out of their pockets.”
“But for a loser like Wyden, who has a history of persecuting ordinary Americans, this is not surprising,” Zhang added.
Senator Ron Wyden (D-Ore.) and ranking member of the Senate Finance Committee meets with U.S. Trade Representative Robert Lighthizer (not pictured) in Washington, D.C., Tuesday, March 12, 2019. Speech at the hearing held.
Anna Money Tree | Bloomberg | Getty Images
Trump unveiled the tax-free overtime proposal Thursday at his first campaign rally since Tuesday night’s heated debate with Democratic nominee Vice President Kamala Harris.
“As part of the additional tax cuts, we will eliminate all overtime taxes,” he told a rally in Tucson, Arizona.
“If you are an overtime worker, when you exceed 40 hours per week, your overtime hours will be exempt from tax,” Trump said.
Trump has been running for president for nearly four years, but Thursday was the first time he mentioned his proposal to eliminate the overtime wage income tax. He claimed to have proposed the plan to “some economists” and said their opinion was “it would be unbelievable”.
The Harris campaign called Trump’s surprise announcement “the latest snake oil sales pitch” and noted that the Justice Department under Trump has refused to defend Trump against his accusations. Obama’s rule This would make overtime benefits available to millions of workers.
Trump has vowed to cut or eliminate a range of other taxes if he wins a second term in the White House. He said the Trump administration would not impose income taxes on workers’ tips or on seniors’ Social Security. He also promised to increase tax breaks for families with newborns and others.
Harris also said she opposes taxing tip income.
A late-August budget model from Penn State’s Wharton School estimated that Trump’s tax proposals at the time would deficit increases Nearly $6 trillion will be added over the next decade.
Goldman Sachs in a september Analyst Notes He said Harris’ economic policies will bring a greater economic boost and stronger job growth than Trump’s plan in the next two years.
Trump claims his plan to impose sweeping tariffs on imported products will provide a windfall that will allow him to pay for many of his plans. Economists warn these tariffs are likely to lead to rising consumer prices.
About The Author
