George W Bush’a treasury department official said GOP tax bill is “holy crap”
Former President George W Bush’s treasury department official warned the American people that there will be unintended consequences from the Republican tax bill.
Greg Jenner told the Politico “We will be dealing with unintended consequences for months to come because the bill is moving too fast,”.
He continued by saying “The more you read, the more you go, ‘Holy crap, what’s this?’”.
His comments come after Senate Republicans fulfilled a major campaign promise on Friday to overhaul the U.S. tax code. The House passed their measure in November.
He also said Republicans are not allowing tax payers enough time to adjust with the major changes in the GOP tax policy. Other critics are also saying the same.
According to report, The legislation will reduce the corporate income tax from 35 percent to 20 percent and would lower tax rates for individuals through 2025.
President Donald Trump has signalled that he wants to sign the final bill before Christmas. Senate and House republicans are now tasked with reconciling their two bills.