For Immediate Release: Wednesday, Dec.20, 2017
Donna De La Cruz,
Working Families Will See Their ‘Tax Breaks’ Disappear After a Few Years
Corporations Get Permanent Cuts and Republicans Plan to Slash Programs Americans Rely On
(WASHINGTON)—The GOP-controlled Congress today passed a $1.5 trillion tax plan that gives and gives to the richest Americans but severely punishes the rest of us (83% of the tax cuts will go to the richest 1% of Americans by 2027).
“Poll after poll show that the overwhelming majority of Americans firmly believe that this plan only benefits the ultra-wealthy and they are right about that,” said Mary Lassen, Managing Director of the Center for Community Change Action (CCCA). “Millions of Americans will see their tax bills increase in order to give the richest 1% of Americans huge tax breaks alongside of corporations.”
But this legislation doesn’t stop at a huge redistribution of wealth upwards. It repeals the individual responsibility provision of the Affordable Care Act which will have devastating consequences; according to the CBO, this provision will lead to 13 million more people without health insurance, and cause health insurance premiums to drastically increase. It will also trigger automatic cuts to Medicare. This legislation allows many more wealthy families to receive the Child Tax Credit but does not make it refundable so millions of working families will see no benefit and it also requires that children receiving the Child Tax Credit must now have Social Security numbers, which will exclude 1 million low-income children from this important tax credit.
“Republicans and President Trump will no doubt be toasting each other over delivering this huge holiday present to their wealthy campaign donors, and themselves, as President Trump stands to directly benefit from the bill, but this fight is not over,” Lassen said. “Americans will remember who voted for this heinous, anti-family measure come November 2018.”
To pay for the tax cuts, Republican leaders are already discussing targeting programs like Medicare, Medicaid, SNAP and even Social Security.
“CCCA and its partners will be holding all members of Congress who voted for this bill accountable for robbing working families in order to enrich millionaires and threatening the future of core safety net programs our families rely on” Lassen said. “Republicans have turned their backs on the families they say they care about but this sham of a bill shows otherwise.”
The Center for Community Change Action empowers the people most affected by injustice. CCCA uses training, political advocacy and electoral tools to help low-income people build political power and push for policy changes that improve their lives. For more information go to www.cccaction.org and follow us on Twitter @CCCAction