Tag Archive: GOP tax plan

Dec 19

Congress narrowly approves huge tax giveaway to corporations paid for by students and working families

Congressional Republicans on Tuesday narrowly approved a massive tax giveaway to the wealthiest and corporations paid for by students and working families. In addition to adding more than $1 trillion to the nation’s debt, Congress voted to partially repeal the individual mandate of the Affordable Care Act, which would leave 13 million Americans uninsured and result in drastic spikes in insurance premiums for millions more. The bill also expands an education tax loophole that would further benefit the wealthy and allow them to set aside money for private school expenses — essentially a voucher program for wealthy families. The partial elimination of the century-old state and local tax deduction also puts in jeopardy the ability of states and local communities to fund public education, potentially risking state funding for more than 130,000 education jobs according to a new NEA analysis.

Dec 14

Families of color would lose big under proposed GOP tax plans, analysis finds

The tax plans under consideration by the GOP-controlled Congress would disproportionately harm families of color, according to an analysis by the Wisconsin Budget Project. “A growing level of resources is concentrated in a very small number of hands, a trend that would be exacerbated if Congress passes one of the federal tax bills currently under consideration,” the organization says. “Both versions of the bill expand the already-significant ability of extremely rich families to keep wealth within their own circles, a move that would contribute to the widening chasm between the very wealthiest and everybody else and would place additional obstacles to economic security in the path of families of color.”

Dec 04

Email your Members of Congress and tell them to VOTE NO on the GOP leadership’s disastrous tax plan!

Over the weekend, the Senate approved along party lines a massive tax giveaway to the wealthiest and corporations paid for by students and working families. In addition to adding $1.5 trillion to the national deficit, the Senate voted to partially repeal the individual mandate of the Affordable Care Act, which would leave 13 million Americans uninsured and result in drastic spikes in insurance premiums for millions more. The bill also expands an education tax loophole that would further benefit the wealthy and allow them to set aside money for private school expenses—essentially a voucher program for wealthy families. Contact your Members of Congress today and tell them to vote NO on this disastrous tax plan.

Nov 22

Teachers sound off on potentially losing classroom supply tax deduction

The tax plan approved by the House would eliminate the “educator expense deduction” which allows teachers and administrators to deduct up to $250 for out-of-pocket expenses used in their classrooms and schools. The Senate is considering doubling the education tax deduction to $500, but educators are very concerned about the possibility of losing this tax deduction, especially while the GOP tax plan provides very large deductions for wealthy individuals and corporations. Here is some of what they had to say.