Taxes are complicated, that we know. But we also know that too many Americans, including OCSEA members and their families, depend on current tax deductions just to stay above water. The last thing struggling working-class people need right now is a higher tax bill. And the last thing this struggling country needs is a tax plan that gives corporations, including those who outsource jobs, better breaks than working families and communities.
But that's exactly what the Congressional tax plan just passed in the House would do. The GOP tax plan gives big businesses and the wealthiest of Americans huge tax cuts while taking away important deductions and raising taxes for the rest. And the Senate version would be even worse! This dangerous plan also includes a tax hit to employer-provided education funds like the Union Education Trust.
According to the AFL-CIO, the Republican tax plan is a job killer that will give 50 percent of its tax breaks to the wealthiest 1 percent, while 25 percent of taxpayers ultimately will pay more in taxes. Americans making $20,000-$40,000 would pay more, says the national union.
The GOP plan would:
- eliminate deductions for Americans who currently pay interest on their homes and student loans;
- eliminate deductions for income and sales taxes paid to local and state governments;
- repeals the Life Learning Credit as well as an exemption on employer-provided funds for secondary education, including the Union Education Trust;
- repeals out-of-pocket medical tax relief for elderly, disabled, ill children and those Americans with high medical bill costs;
- repeals parts of the Affordable Care Act (Obamacare), including the individual mandate.
- incentivizes corporations who offshore jobs.
The health care double whammy
The tax plan deals a double whammy to working families, first by raising taxes on millions of middle class families, and now by repealing a part of the Affordable Care Act (Obamacare) that would throw 13 million off the rolls of health care. The tax incentives to the wealthy would also forces large cuts to vital programs like Medicaid and Medicare.
The community impact
Communities and public services will also be greatly impacted under the GOP tax plan. The slashing of deductions for state and local taxes means it will be harder for individual states to fund things like high-quality education and infrastructure projects. This will cost millions of jobs and chip away at the services needed to improve quality of life in our communities. This video from the AFL-CIO details the dangerous tax plan in simpler terms.
Call Senator Portman NOW and tell him to vote NO! or text “Resist” to 504-09. You can also call or send an email at notonepenny.org.
Related: Union Education Trust funds at risk under GOP tax plan