THE ECONOMY MUST WORK FOR ALL AMERICANS
The Republican tax and budget agenda is a blatant attack on hardworking Americans and middle-class families. Tax cuts for the richest will be paid for by massive spending cuts to key programs that help Latino families make ends meet, stay healthy, put food on the table and keep a roof over their heads. Congress shouldn’t sacrifice the wellbeing of hardworking families and children to provide large tax benefits for the richest people in this country.
Under this plan, millionaires get a tax cut and working families pay for it. The Institute on Taxation and Economic Policy found that the richest 1% would get 28% of the tax cut in 2019, while the poorest 20% would only see 2% of the tax cuts.
The Senate bill would eliminate the individual mandate, a critical part of the Affordable Care Act (ACA) that helps millions of Americans afford health coverage. Without the mandate, the 13 million Americans will lose their healthcare, and 7 million more would see a 10% increase in premiums, making healthcare hundreds of dollars more expensive.
It is also an attack on our community and Latino taxpaying immigrants and their children by threatening to restrict eligibility for refundable tax credits. By requiring a Social Security number, certain immigrants making significant tax contributions would see their families lose critical tax credits for which they are now eligible.
The Senate Republican tax bill would raise the cost of healthcare and increase the number of Americans without health insurance by 13 million, all so they can give another $300 billion in tax cuts to the rich.