Tell your representative: NO MORE tax cuts for the rich!

 Over the weekend, the Senate passed a tax bill that would harm millions of low- and middle-income Americans. The House and Senate are now negotiating over how to fast-track this bill to the President, a bill that would:

  • Deliver the greatest share of the tax cut to the rich and profitable corporations. The richest 1 percent of taxpayers in North Carolina would receive more than 25 percent of the tax cut. 
  • Increase the tax load for middle income taxpayers. Overall, 13 percent of North Carolina taxpayers would see their tax load increase under the Senate proposal.
  • Grow the deficit.  This bill would add an additional $1.5 trillion over the next 10 years.

The House is now considering whether to pass the Senate bill as-is or to merge it with the House's version and vote again before it goes to the President. The only good resolution for North Carolinians is that they reject every current option and come back in the new year to pursue principled tax reform that helps all families, not just wealthy ones.

The Senate plan puts forward the wrong priorities that will hurt our state and our economy.  Here are three ways  this tax plan falls short of what is needed to truly strengthen the middle class and grow a stronger economy:

  • The Senate tax plan repeals the individual mandate, which will cut health insurance for at least 13 million Americans. Lawmakers are cutting health care coverage for millions to pay for permanent corporate tax cuts.
  • The Senate tax plan will force the provisions that support middle income taxpayers—the increased standard deduction, child tax credit increase and lower individual tax rate—to expire after eight years.

  • Just one in three children's families would receive an increase in the Child Tax Credit under the Senate plan.  Meanwhile, the Senate plan would deeply cut the estate tax, which means the wealthy get to keep more of their inheritance while children from working families get less.

Tell your U.S. Representative to vote NO on any bill that hands out huge tax cuts to the wealthy while hurting working families and growing the deficit.