House Minority Leader Nancy Pelosi (D-Calif.) continued to bash the GOP tax reform bill last week despite it already benefiting millions of Americans. But she had a different take when her party temporarily cut taxes — and at a smaller rate — just a few years ago.
What did Pelosi say?
During her weekly press briefing last week, Pelosi dismissed as "crumbs" the bonuses and wage increases companies are giving their employees as a result of the tax reform package the GOP-led Congress passed and President Donald Trump signed in December.
"In terms of the bonus that corporate America received versus the crumbs that they are giving workers to kind of put the schmooze on is so pathetic. It's so pathetic,” Pelosi said, according to the Washington Free Beacon.
Indeed, Pelosi is correct. Businesses got a massive tax break in the new bill, which cut the corporate tax rate to 21 percent from 35 percent. Republicans argued easing the tax burden on businesses would help stimulate the economy and help workers because wages would go up.
They have been proven correct. According to the Washington Examiner, more than 160 companies have so far announced bonuses or wage increases directly citing the tax bill as the impetus.
However, when Democrats saved Americans an average of just $40 in 2011, the former speaker of the House sang a much different tune.
What did she say then?
After Congress passed a temporary extension of the payroll tax cut in 2011, which saved the average American worker just $40, Pelosi praised the accomplishment as a "victory for the American people" that "will make a difference."
Today's agreement is a victory for the American people-they spoke out clearly & #40dollars each paycheck will make a difference.— Nancy Pelosi (@Nancy Pelosi) 1324598910.0
She further praised the accomplishment in a statement:
Today is a victory for all Americans — for the security of our middle class, for the health of our seniors, and for economic growth and job creation. The American people spoke out clearly and, thanks to President Obama’s leadership, 160 million Americans will continue to receive their payroll tax cut — nearly $40 per paycheck in the pockets of the average family. I salute the work of the unified House Democratic caucus on behalf of the American people.
In addition to the millions of dollars companies are handing out in raises and bonuses, the majority of Americans will see tangible results in their paychecks next month — and in most cases, it will be more than $40.