NH lawmakers react to President Trump's tax plan

Published: Nov. 20, 2017 at 5:58 PM EST
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President Donald Trump said Monday that Americans will get a "huge tax cut" for Christmas. But New Hampshire Congresswoman Annie Kuster is traveling her district with a much different message.

"Immediate phase-out of the $7,500 tax credit for purchase of electric vehicles," said Kuster, D-New Hampshire.

The plan to cut incentives for clean energy was just one reason why Kuster voted against the House of Representatives tax bill which was approved last week.

"You will no longer be able to deduct your interest on student loans," Kuster said. "That impacts millions of people across the country."

While GOP lawmakers in Washington, D.C., say it's the middle class who will benefit from tax reform, Kuster says millions of Americans will actually see higher taxes while big business gets a break.

"Corporations will continue to have all of these deductions. Corporations can deduct their property taxes. They can deduct interest on loans," she said.

But New Hampshire State Rep. Vicki Schwaegler disagrees.

"It's a tax cut. It's not just tax reform, it's a tax cut," said Schwaegler, R-Orford.

And Schwaegler says lower taxes, especially for corporations, will have a trickle-down effect.

"Stimulate the economy which then, in turn, provides more jobs and higher wages," she said.

It's a debate that's playing out in Washington and at community forums like this one in Lebanon which was hosted by Kuster and other local leaders. People at the forum said the more information that's out there, the better.

"Right, I think people can then talk to their legislators, their senators, their House of Representatives and say we are concerned about these particular issues," said Roger Lohr of Lebanon.

Issues like tax credits to buy electric cars.

"The only people that I know that can afford electric cars are the people that can afford a new car," Schwaegler said.

A Senate version of the tax bill has been approved by the finance committee. However, a full vote in the U.S. Senate is not expected until December.