Former Clinton Labor Secretary Robert Reich ripped the GOP tax bill on Tuesday, calling it “trickle-down economics on steroids” and “an example of the kind of worst Republican kind of thinking.”
“This is trickle-down economics on steroids. This is an example of the kind of worst Republican kind of thinking,” Reich said on CNN’s “OutFront.”
“You give big corporations big tax breaks, you give billionaires and real estate developers big tax breaks and somehow that’s going to help everybody else and make the economy large and grow — well, it’s just not going to happen and, in fact, quite the opposite,” he said.
Reich suggested the best way to grow the economy is to “invest in people,” e.g. education, job training, infrastructure and health care.
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“And this bill is actually not only not doing that, it’s going to make it harder in the future to make those kinds of investments in our people,” Reich said.
The Senate approved the bill early Wednesday morning, while the House passed the bill for the second time in two days on Wednesday after the Senate parliamentarian found that several provisions violated the rules governing the legislation.
Trump could sign the bill while he’s vacationing at his Mar-a-Lago estate for the holidays.