EUGENE, Ore. – State officials have different opinions of how the new Republican tax plan, unveiled Thursday, could impact Oregonians.
President Trump is hoping by the time he returns from his two week Asia trip, Congress will be ready to pass the new tax reform bill.
Under the plan, Republicans said the average family making $59,000 a year would save roughly $1,200 a year, but Democrats disagree.
To balance the cuts, Republicans are slashing popular tax breaks like the student loan interest deduction, the medical expense deduction and the mortgage interest deduction.
State Sen. James Manning said on Friday the new plan will leave the state of Oregon picking up more of the tab in order to fund other programs.
He said as a whole people will be paying more taxes and will get less for their money, and in turn the state is going to have to fill that void. Manning said the plan only helps one group of people.
“It’s not looking at the working class or the poor people,” Sen. Manning said. “It's going on an assumption that if we can eat steak, you can eat something less and you'll still be okay. That's not acceptable.”
Not every Oregon lawmaker feels that way. Congressman Greg Walden praised the tax plan in a statement:
“For too long, middle-class Oregonians and people across the country have been left behind in an economy stagnated by a dated and broken tax code. The plan released today is the first step toward much-needed tax reform to help Oregon’s small business owners, boost job creation, and stimulate economic growth. I look forward to working with my colleagues to provide a simpler, fairer, and more affordable tax system for hard-working Oregonians and their families.”
The latest poll from ABC News shows 60 percent of Americans believe the plan favors the wealthy.