In the early hours of Saturday, one of the largest tax reform plans passed into legislation in 51-49 vote, according to CBS News.
According to language in the bill, the corporate tax rate drops from 35 percent to 20 percent. The measure focuses its tax reductions on businesses and higher-earning individuals, gives more modest breaks to others, said the Associated Press.
Democrats, at home and abroad reacted with anger to the bill, they said, is a ‘gift to the wealthiest.
Senator Richard Blumenthal, who voiced his opinions on the Senate floor, reacted to the bill’s passage,
"Tragically for our nation, it drives deeper divisions - creating more income inequality and uncertainty, engendering increased anger and anxiety, and undermining our democracy. The feeble claim that it will lead to more jobs and economic growth is magical thinking - deft delusion or outright deception at an enormous price."
Senator Chris Murphy wrote,
“Billionaires and corporations do great, but most everyone else in Connecticut will do worse. This bill, written in haste and passed in the dead of night with absolutely no ability for the American public to look at it, will be a disaster for the economy.”
Governor Malloy and Lt. Governor Wyman, also commented,
"The tax bill passed by Republicans in the Senate is nothing short of an abomination. Make no mistake about it, for the vast majority of families across our nation - and especially for those in Connecticut - this legislation is not a tax cut, but rather a full-out assault on working people,” said Governor Malloy.
"Among the serious failures of the Republican tax plan is the repeal of the Affordable Care Act healthcare mandate. Healthcare is a fundamental right. The Republican tax plan threatens years of progress to make it affordable and accessible for all,” said Lieutenant Governor Wyman.
"Just what the country needs to get growing again," Senate Majority Leader Mitch McConnell, R-Ky., said in an interview with the Associated Press.
Eyewitness News has reached out to the CT Republican Party for comment.
Copyright 2017 WFSB (Meredith Corporation). All rights reserved