WASHINGTON, D.C. - Representative Joe Baca (D-Rialto) spoke out yesterday against the late night passage of the GOP $350 billion tax cut package, saying it will do nothing to stimulate the economy or help working families.  

“This bill eliminates the double taxation on corporate dividends and cuts back capital gains taxes.  Next on their agenda is the elimination of the estate tax. These are three tax cuts that aren’t even on the radar screen for average working Americans.” Baca said. “These cuts aren’t doing anything but putting more money in the pockets of wealthy people.”  

“New jobs will not be created under this tax plan,” Baca said. “We need to get money into the hands of the consumers to stimulate the economy and create a need for more jobs. The Republicans just don’t seem to understand that.”   

Under the Republican tax plan 9% of the tax cuts will occur this year and according to Baca, those that do occur will only be temporary. 

“The child tax credit under this plan is a sham. In two years it will be lowered by over $300. They made all of the tax cuts for the wealthy permanent, why can’t this one be permanent too?” Baca asked. “It’s a tax cut that isn’t even big enough to cover what most families spend in day care in six months. And to add insult to injury, they made it temporary.”  

House Democrats criticized the new tax plan by saying it will increase the nation’s debt, creating a heavy burden for generations to come. 

“The President came into office with a $5.6 trillion dollar 10 year surplus. Now we are facing a $1.4 trillion deficit,” Baca said. “Our children are going to be responsible for paying this off. This isn’t smart fiscal policy and it certainly isn’t fair to our children.” 

The Republican tax plan was passed last night by a 231 –200 vote.