During his Wednesday press conference, Senate Minority Leader Chuck Schumer (D., N.Y.) announced his opposition to the newly proposed Republican tax plan and used a false statistic to argue it would raise taxes on working Americans.
"By repealing the personal exemption, Republicans are once again raising taxes on middle class and working Americans," Schumer said. "A family of two, on this framework, with a household income of $45,000 could see their bill increase by $1,000."
The claim put forth by Schumer does not add up. The proposal’s doubled standard deduction for married taxpayers filing jointly, from $12,600 to $24,000, more than makes up for the elimination of the $4,050 personal exemptions that would be eliminated in the proposal. Despite the tax rate increase, from 10 to 12 percent, the family of two would see its taxes decrease by about $200.
A spokesman for Schumer acknowledged that the minority leader misspoke during the press conference—the senator meant to say a family of four. Schumer did not correct himself during the press conference.
Source: Washington Free Beacon