The Republican tax plan is a handout to millionaires, billionaires, and big corporations that will raise taxes on working families and give corporations new incentives to send more U.S. jobs overseas. Republicans and White House staff have been working overtime to spin this deal as a “middle class tax cut.” It’s not. And this tax plan is likely to get much worse for working families as the House Ways and Means Committee moves forward.
What does this tax plan do to CWA working families?
- It limits the ability to deduct property taxes and completely eliminates the ability to deduct state and local taxes.
- It gets rid of tax deductions that help families pay education expenses. It will tax directly the value of employer-provided education assistance that at least 10,000 CWA members use.
- It restricts the amount of home mortgage interest that can be deducted, hurting CWA members and working people especially in areas like California, New York, New Jersey, and other states with high housing costs.
- It wipes out the ability of families to deduct their medical expenses.
- Any employer-provided child care benefit will be taxed, and assistance from employers to help CWA families adopt a child also will be taxed.
This plan also adds at least $1.5 trillion to the federal debt over 10 years, and the budget framework Republicans passed already includes cuts in Medicare and Medicaid. Predictably, Republicans soon will start to complain about the budget deficit that they created and step up their attack on programs that working families rely on, like Medicare, Medicaid, health care, education and more.
We cannot allow tax cuts for the wealthy to harm millions of working families. CWA and our allies are fighting back against this massive transfer of dollars from working families to the richest 1 percent.
The Communications Workers of America represents 700,000 working men and women in telecommunications, media, airlines, public service and manufacturing.