ACT NOW: 5 Reasons the Senate Tax Bill is Bad for People and the Planet
The tax bill is moving forward fast in the Senate. If it passes, it will dramatically lower taxes for corporations and the wealthy, but could raise taxes for many middle class Americans by 2021, and cut programs many of us rely on, while adding up to $1.5 trillion to the deficit.
The President has told the country that the tax bill is a “Christmas gift” to the country, but when you unwrap the package, you find:
1. The bill poses a major threat to clean energy and climate. The House bill posed a direct threat to wind, solar, and electric vehicle tax credits. The Senate bill poses a threat to investment credits for institutional investors that pour billions of dollars into wind and solar. The Senate Bill could also open up the Artic National Wildlife Refuge to drilling. The bill will set back our country’s transition to a clean energy economy, and devastate the solar and wind industries, which are also two major job producers.
2. The bill doesn’t help the poorest families in the US. The Senate bill contains a doubling of the child tax credit, but that won’t impact low-income families who are excluded, and who could most use the assistance. The Joint Committee on Taxation found that the overwhelming majority of households earning under $20,000 won’t be helped by the tax bill.
3. The bill would imperil healthcare. The Senate bill contains a repeal of the individual mandate, the portion of the Affordable Care Act that mandates health coverage. Repealing the mandate will likely cause 13 million Americans to lose health insurance and raise rates on millions more. In addition, the bill would eliminate the medical spending deduction, which is used by many Americans facing staggering medical bills. And, the bill will likely result in budget shortfalls that will lead to dramatic cutbacks in Medicare and Medicaid spending. The health of Americans will suffer.
4. The bill will increase the divide between wealthy white Americans and people of color in the US. The House and Senate bills phase out the estate tax and lowers corporate tax rates – both of which will help wealthier, mostly white Americans. At the same time, the House bill removes tax credits for educational expenses and student loan debt, and both bills will likely lead to cuts to federal programs – all of which will hurt many people of color.
5. The bill will make corporations and their investors wealthy at the expense of average Americans. Cutting the tax rate on corporations and pass through income will enrich the wealthy. So will eliminating the Alternative Minimum Tax. Based on prior tax cuts, there is no evidence that this will create jobs. There is significant evidence that this will increase corporate profits and individual wealth for those who are already wealthy.
The Senate Tax bill is not a done deal. Let’s keep Senate phones ringing in opposition to a tax bill that further enriches the wealthiest Americans and Corporate America at the expense of most Americans!
Call today to make your voice heard!
Find Your Senators and Phone Numbers Here
Sample Phone Message:
Hello, my name is ______ from City/state. I am calling to urge Senator ____ to vote against the Senate tax bill, including any provisions to repeal the Affordable Care Act. I am also deeply concerned about the need to maintain significant support for crucial social and environmental programs. Our tax policy should ensure that the largest corporations and wealthiest individuals in our country are supporting broad-based prosperity, not the further concentration of wealth. I urge the Senator to oppose this bill and instead to promote an economy that truly works for people and the planet – including support for healthcare, education, environmental programs, and community services. As a constituent, can I count on the Senator to oppose the tax bill?