President Donald Trump and the GOP are hustling for a tax plan that would change American life in terrible ways by cutting services, killing American manufacturing, weakening our economy and undermining our future.
- It sends jobs overseas. The GOP tax bill cuts to zero the tax rate for companies that ship factories and production overseas.
- It favors the rich and punishes workers. Workers who earn between $40,000 and $50,000 annually would pay $5.3 billion more under the GOP tax bill, while rich people who bring home more than $1 million a year would pay $5.8 billion less.
- It hurts our future. The GOP tax bill is bad for students because it ends tax deductions for student loan interest, tuition expenses and tuition assistance.
- It hurts education, health care and infrastructure. The GOP tax bill repeals the deduction for state and local income taxes, which pay for high-quality public education, infrastructure and good jobs.
- It hurts seniors and people with disabilities. The GOP tax bill ends tax deductions for out-of-pocket medical expenses.
Instead of making things worse, our leaders should be fighting to make life better for working people.