This weekend, Donald Trump and the GOP unequivocally showed that they’re not on the side of working families.
This weekend, Donald Trump and the GOP unequivocally showed that they’re not on the side of working families. In the early hours of Saturday morning, senators approved a “tax reform” bill that was still being written — there were even illegible handwritten notes in the margins and whole pages crossed out last minute.
It’s clear now why the GOP voted on the bill under the cover of night: It’s a disaster for workers. Corporations and the top 1% make out like bandits while the working families who drive our country are forced to pay the price.
Here’s what workers can expect from the plan:
- Higher taxes. The Senate tax plan raises taxes on low- and middle-income families to pay for tax breaks for big corporations and the wealthy.
- Less upward mobility. The bill leaves working families with fewer resources to invest in their children, raising healthcare costs and decimating public education. It also raises taxes on students and cuts funding for professional training programs.
- Less dignified retirement. The GOP tax plan cuts Social Security, Medicare, and Medicaid while also making it more difficult to save for retirement.
- Stagnant wages. Corporations including Cisco, Pfizer, and Coca-Cola have already said that the gains from corporate tax cuts will go to shareholders, not workers. The bill also punishes small businesses: A typical small business will pay the same or higher taxes than it currently does while also losing key tax breaks, making it harder to invest in workers.
On the other hand, corporations and the uber-rich will see:
- Lower taxes. A person in the bottom 10% gets a $50 tax cut. A person in the top 1% gets a $34,000 tax cut. Corporations will see their taxes drop almost in half, putting more money into the pockets of the wealthiest.
- More handouts for worse behavior. The Senate plan incentivizes offshoring by givings billions in tax breaks to corporations that move jobs and profits outside the United States.
- More opportunity for the wealthy. By eliminating the estate tax, the tax plan codifies income inequality, putting the top 0.2% even further ahead of the rest of us.
Enough is enough. We need a tax policy that works for working families, not more giveaways to big business and the top 1%. Now is the time for workers to stand in solidarity against this attack on our livelihoods. Call your senators today at 844-899-9913 and tell them to oppose the bill. Let’s show Congress that working families refuse to sit by and let this shameful bill become law.