In the face of a projected $700 million budget cut to state tax revenues, Republicans have promised to reduce taxes across the board for those at the bottom of the economic pyramid.

    But it will hurt families, small businesses and the middle class the most, according to a new study. 

    “The budget cuts that Republicans have proposed to Washington state will have a big impact on families and small businesses,” said Amy Krieger, a policy analyst with the Center for Economic and Policy Research (CEPR). 

    “If you’ve got a family with two children, you’ll be paying a lot more.” 

    The analysis by the Center on Budget and Policy Priorities (CBPP) found that eliminating tax cuts for the middle and lower class would increase spending by $4,921 for the next five years. 

    That would mean families and businesses would spend about $7,100 less per year, on average, on their most basic needs. 

    The cuts to small business taxes also would affect a growing number of families and smaller businesses that rely on government assistance programs like food stamps, food stamps benefits and Medicaid. 

    While the CBPP study noted that the cuts to food stamp benefits and the state’s Medicaid programs were expected to have the greatest impact on those with low incomes, those at higher income levels would be most affected. 

    Budget cuts are projected to reduce tax revenues for Washington state, but the state has not yet released a final budget. 

    State Rep. Scott Olsen (R-Harrison) said he has proposed $1 billion in new tax revenue to help pay for the cuts. 

    If the state could afford to provide $1.3 billion, the cuts would help the state pay for some of its biggest needs, such as higher education, and also allow for tax increases, according to the Center. 

    A number of House Republicans are also proposing $500 million in tax cuts.

    The House Republican budget would slash the state sales tax by $1 a gallon, eliminate state-funded unemployment benefits and cut the sales tax exemption on tuition for state employees. 

    Sen. Marko Lofgren (D-Wash.) has also proposed $500m in tax revenue for his state’s economy. 

     The proposal comes as lawmakers and administration officials are trying to reach a budget deal in the wake of the state budget’s announcement that it will receive a $400 million surplus. 

    Some of the lawmakers who have proposed tax cuts have already raised concerns about the cuts and the effect they will have on families. 

    Democratic lawmakers who support the tax cuts in the budget have said that they have seen families losing jobs and businesses shuttered, according the Washington Post. 

    However, there are many people who have benefited from these tax cuts, and some of the tax credits are set to expire. 

    Republican Rep. Chris Larson (R) has said that “this is a big deal.”

    “I am concerned that these tax breaks for people at the top of the income scale are being stripped away,” Larson told the Post.

    “It’s not just the top two percent, it’s the middle two percent.

    It’s the working families that have been hit hard by this.” 

    Larson has also argued that the state should not be using tax credits to help the middle-class, who are the people who would benefit the most from these cuts.

    “The tax credits for middle-income families are going to expire,” he told the Washington Examiner.

    “We should not use them as a lever for tax cuts to the wealthy.” 

    “I’m also concerned that this budget does not do enough to support small businesses.

    That’s a real problem because these tax credits will have an impact on small businesses.”