TELL CONGRESS: Oppose renewing Trump’s tax cuts for the wealthy
When Republicans passed the Trump tax cuts for the wealthy and corporations in 2017, they allowed the tax cuts for the wealthy to expire after 10 years for two reasons:
To allow for massive PERMANENT tax cuts for corporations
To reduce the overall cost of the tax cuts so the deficit didn’t INCREASE by more than $1.5 trillion
Now, House Republicans are coming back for a lot more, introducing legislation that would make the Trump tax cuts for the wealthy permanent. The Tax Policy Center estimates this would add $3 trillion to the national debt over the next 10 years while heavily benefiting the nation’s richest households.
The richest 0.1% with incomes over $4.5 million would get an average tax cut of $175,000 in the first year if the Trump tax cuts are made permanent. Those with incomes over $1 million would get almost a $50,000 tax cut.
More than one-half of taxpayers – 100 million households making less than $75,000 a year – would get an average tax cut of just $340 a year. That’s less than $1 a day! Households making under $50,000 a year would get a tax cut of less than $200 – about 50 cents a day!
Renewing the Trump-GOP tax cuts would explode the national debt by $3 trillion thereby threatening Social Security, Medicare, Medicaid and other critical services that benefit working families. At a time when Republicans are threatening deep cuts to these critical programs, citing the need to reduce the U.S. debt as the reason, it is outrageous that they would propose more tax cuts for the wealthy, which are key drivers of the federal debt.
Add your name now to tell Congress to reject renewing Trump’s tax cuts for the wealthy. Instead of even more handouts for millionaires and billionaires, Congress should be making the rich and corporations pay their fair share of taxes so we can strengthen Social Security, Medicare, Medicaid and other critical services that benefit working families.