Congress has passed the most substantial tax reform package
since the Reagan administration.
All of Louisiana’s republican congressional delegation voted for the bill,
which has an estimated cost of 1.5 trillion dollars. U.S. Representative Ralph Abraham of Richland Parish says it will mean more money in people’s pockets.
"This is going to be a great tax bill, and great tax reform not only for Louisiana but for the United States."
Abraham says Louisianans will see the benefits of the
significant cuts to the business tax rate.
"That small or large business can reinvest in their infrastructure, reinvest in their employees. You're going to see wages go up, unemployment go down."
But Executive Director of the Louisiana Budget Project Jan
Moller says the bill takes money from the working class and gives it to the
"This bill represents a massive transfer of resources and wealth from low and moderate income families to the most powerful people and corporations."
And Moller says that Republican’s claims about the bill
paying for itself are false.
"It's not going to pay for itself, every single analysis, including congress's own, using Republican assumptions says this is going to add massive debt to the United States."
The bill is expected to be signed by the president, once it receives final legislative approval.