Policy Brief - GOP Tax Bill
As Christmas approaches, Congress moves towards passing a Tax Bill that a majority of Americans Don’t Want
On Wednesday December 13th, Senate Republicans and House Representatives announced the imminent agreement on a consensus Tax Reform bill, consolidating the Senate and House versions of the Tax Bill that were voted through earlier this month. Congress is expected to move the Bill to the floor for a vote next week ahead of the Christmas Holiday. The Tax Bill would be the largest tax reform overhaul in decades, representing the current Administration's first major legislative "win" and the continued devaluation and systematic oppression of Black, Brown, Indigenous and immigrant communities in this country.
Here are 5 Things that You Should Know about the Tax Bill.
1. Initially, families will see a decrease in their taxes in the form of increased take home pay as early as February 2018. On average, families will see an $840 tax break in 2019. However, by 2027, as the tax cuts for families expire (while corporate tax cuts remain permanent), at least 50% of families will be paying more in taxes, and families that find themselves in the two lowest tax brackets will see zero benefit and an increase in taxes.
In contrast, the Tax Policy Center predicts that the top 0.1% on average will pay $62,000 less in 2019, and in 2027 will pay $182,000 less on taxes, not to mention the millions they will save due to corporate tax cuts.
2. While the claim is that the Bill won't add to the national deficit (and that it will pay for itself) - this has been refuted by several sources. In fact, the cost of the bill is estimated to add $1 trillion to $1.5 trillion to the national deficit over the next decade. This means that both the Federal government and States will have less money to spend on entitlement programs, infrastructure programs and Medicaid, forcing (potentially life-saving) services that many Black women and communities of color rely on to be cut.
3. It is proposed that undocumented immigrants will be cut off from receiving a child tax credit through the addition of a requirement to produce a social security number for children, which will disproportionately negatively effect women and single-caregiver households.
4. The Individual Mandate requirement through the Affordable Care Act will be repealed, leaving an estimated 13 million people uninsured over 10 years, which will continue the trend of Black women in particular having less access to affordable, culturally competent, comprehensive healthcare, including reproductive healthcare.
5. The Bill opens up the Arctic National Wildlife Refuge in Alaska for energy exploration, accelerating climate change, endangering the survival of the Arctic ecosystem and violating sacred Indigenous lands.
The proposed Tax Bill serves to continue to exploit the labor of our communities most often at the margins for the white supremacist, capitalist gain of corporations and those holding the most financial wealth and is the opposite of economic justice.
Let's fight this!
Sign to tell the Senate to suspend the tax vote until newly elected Alabama Senator Doug Jones is seated.
Call your senators to tell them to vote no on the tax bill.
Join Black Women's Blueprint in building economic solidarity and economic justice in our communities for Black women and survivors.
Protest Find a protest, rally or march in your area to make your voice heard.