| " In a speech to the National Press Club, Mr. Schumer branded the idea of a tax code overhaul that could simultaneously lower the top rates, bring in more revenue and protect middle-class taxpayers from increases as "little more than happy talk."
"It is an alluring prospect to cut taxes on the wealthiest people and somehow still reduce the deficit, but you can't have your cake and eat it too," said Mr. Schumer, a member of the tax-writing Finance Committee. "The reality is, any path forward on tax reform that promised to cut rates will end up either failing to reduce the deficit or failing to protect the middle class from a net tax increase." |
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