Third Way Statement: GOP Tax Plan “Falls Far Short”

WASHINGTON—Third Way released the following statement on the Republican tax plan:

"The need for tax reform isn’t about Democratic or Republican interests. It’s about an arcane system that’s holding back growth, jobs, and workers’ opportunity to earn. But just as both parties want to fix this relic, both parties must have a seat at the table.

"We have always said that tax reform should invest in growth, maintain revenue and progressivity, simplify the code, and put work on par with wealth. The Republican-only bill falls short of where it needs to be. The way to fix it—to shift the focus from tax breaks for the rich to help for working- and middle-class families—is through a genuinely bipartisan process.

"Tax reform is critical for our future. There is a lot we can do to overhaul one of the biggest levers government has to ensure companies start here, grow here, and stay competitive on a global stage. And reform can ensure that everyone everywhere has the opportunity to earn a good life. Congress must now work in a bipartisan way to build a newer and better version of what we know reform can be."