The richest 1% of taxpayers win big with the House’s tax plan that’s being considered by Congress right now. They would get immediate tax breaks in 2018 and those cuts just keep growing; by 2027 they will get on average $64,720 in tax cuts. Meanwhile, 1 out of every 5 taxpayer will have to pay MORE in taxes in 2027.
Low – and middle income working families would see tax hikes, and funding for public services would be significantly cut in addition to the tax deductions that working families rely on.
Besides the tax rates for the nation’s corporate elite, here’s what else is on the chopping block:
- $2.2 Billion annually for affordable housing construction in CA alone (source)
- $5.8 Trillion will be slashed from Medicare, Medicaid, education and more (source)
Furthermore, the GOP tax plan would plunge our nation into $1.3 Trillion deeper into debt in the next decade. This comes out to about $12,000 per household (source)
The “Tax Cuts and Jobs Act,” as the GOP tax plan is known, is not just bad policy but bad for our communities. It doesn’t create jobs or create improvements in working families lives.
Take action. Call 1-855-713-0060 to tell your representative to reject the GOP’s tax proposal give tax cuts for corporations and the 1%.