The goal of the House Republicans’ tax reform plan, dubbed the Tax Cuts and Jobs Act, is clear: to provide corporations and the ultra-wealthy as many tax breaks as possible. The bill would permanently lower the corporate tax rate from 35% to 20%, gradually phase out the estate tax (which only applies to estates with greater than $5.6 million in assets), and eliminate the alternative minimum tax (AMT) immediately. The AMT only applies to people who make more than roughly $130,000 a year; Trump paid an additional $31 million in taxes solely because of the AMT in 2005. Meanwhile, this plans offers no tax breaks to the bottom 35% of Americans and will increase the deficit by a whopping $1.5 trillion over the next decade.
To pay for these tax cuts for the wealthy and big businesses, the GOP plans to eliminate a multitude of itemized tax deductions that typically offer relief to middle-class consumers, including deductions for student loan interest, adoption costs, moving expenses, alimony payments, and extremely high medical costs. Additionally, it would eliminate exemptions for dependent children and personal exemptions. While the bill would increase the standard deduction to make up for the elimination of itemized deductions, the increase is only about 15% when accounting for the loss of the dependent and personal exemptions. The larger standard deduction also means that middle-class consumers have less of an incentive to donate to charity, hurting non-profit charitable organizations in the process.
The GOP claims that their plan is designed to cut taxes for the middle class, but it is clear that their primary goal is helping the wealthy avoid paying their fair share in taxes. If implemented, these changes would result in the transfer of wealth from the working class to the rich and will continue to exacerbate income inequality in this country.
Call your members of Congress and urge them to oppose a tax plan that is tailored to corporations and the ultra wealthy.
RESISTBOT: Text the word “resist” to 504-09. Follow the prompts to send your Members of Congress a fax. It’s easy. You enter your zip code and you are directed to your representatives.
FIND YOUR REPRESENTATIVE: https://www.house.gov/representatives/find
Rep. Ted Yoho
Orange Park: 904-276-9626
Rep. John Rutherford
Rep. Ron DeSantis
Palm Coast 386-302-0471
Rep. Al Lawson
Sen Marco Rubio
JAX – 904-354-4300
Sen Bill Nelson
DC – 202-224-5274
JAX – 904-346-4500
Hi, my name is [NAME] and I’m a constituent from [CITY].
I’m calling to express my opposition to the Tax Cuts and Jobs Act. It is clear this bill is designed to benefit the ultra-wealthy and corporations while providing minimal benefits to most middle-class households. I ask that [SEN./REPRESENTATIVE NAME] oppose this truly unfair and harmful tax plan.
Thank you for your time and attention.
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