Last week, our senators, including Sen. Jerry Moran and Sen. Pat Roberts, followed the destructive path laid before them by Congress and passed their tax reform bill in a totally partisan manner... But what does that mean for you?
While the Republicans have been claiming middle class families would receive a tax cut in their plan, that simply does not appear to be the case. Both the House and Senate bills include measures that will adversely affect those families, through the elimination of personal exemptions and property tax deductions. On top of this, these bills would add at least $1 trillion to the national debt.
Additionally, whatever small gains are proposed for 2018 will be eliminated down the road to pay for rate reductions for large corporations and the very wealthy. By 2027, the bill would actually raise taxes on households making less than $75,000, according to the Tax Policy Center.
The TPC concluded the tax cuts would not only “continue to be regressive, but the vast majority of American households would actually be worse off, with the tax cuts plus the financing, than they would be if the tax cuts had not occurred."
Plus, the removal of credits like the Disabled Access Credit and the Work Opportunity Tax Credit would end incentives companies had to hire disabled veterans, and make it harder for companies to afford special accommodations like ramps and other ADA-compliant modifications.
Further, as the bill does nothing to address ending corporate loopholes, the only way to tackle the $1 trillion addition to the national debt problem would, seemingly, be to hack away at effective safety net programs like Medicare, Social Security, and Medicaid. One has to ask: has this been the plan all along?
Unfortunately, I am not shocked by the passage of these bills. The rush to push forward legislation written by lobbyists for the benefit of the rich and well-connected just isn’t shocking anymore.
We must demand better of our leaders. Fiscal responsibility and protecting the most vulnerable among us is not a Republican or Democrat issue. It’s an American issue that challenges us to reevaluate our moral priorities.
For the sake of our economy and our moral standing, we must call on Congress to reject this broken tax plan, go back to the drawing board, and work together across the aisle to craft legislation that makes sense.