Only two weeks after introduction of the Republican tax bill, and without holding a single hearing, the U.S. House of Representatives has passed a massive, multi-trillion dollar plan that is a tax giveaway to the wealthiest and corporations paid for on the backs of working families and students, and jeopardizes the ability of states and local communities to adequately fund public schools.
The Senate Finance Committee has also voted on their tax bill which not only includes many of the same damaging provisions that the House bill contained - such as elimination of the state and local tax deduction which could put up to 370,000 educator jobs at risk – but incredibly includes a provision to partially repeal the Affordable Care Act by eliminating the individual mandate which would leave 13 million Americans uninsured.
What’s next? The full Senate is expected to vote on their bill the week of November 27. Now is the time to take action to tell your senators to Vote No on this tax plan that is harmful for students, public education, and families.
The Senate bill in short:
A Giveaway to the Wealthy and Corporations sets up Drastic Cuts to Medicaid, Medicare, and Education
One analysis of the Joint Committee on Taxation's estimate shows that this bill is overwhelmingly skewed to the wealthy. Under the Senate GOP plan, 79 percent of the net tax cuts will go to businesses and the wealthiest estates. Further, in households earning less than $100,000 - 11 million households will be taxed more and 53 million households will see a tax change of less than $100.
Eliminating SALT Deduction is a Tax Increase and Could Devastate Education Funding
NEA conducted a detailed analysis of the plan to eliminate the SALT deduction. In total, education funding could take a $373 billion cut over the next 10 years and put up to 370,000 education jobs at risk. It is no secret what is likely to follow if Congress eliminates SALT. If there is any doubt, one need only to listen to what far-right groups like ALEC are saying right now. Their letter about the SALT deduction lays out their plan—to lobby for lower taxes at the state and local level. This means even fewer available funds for students and public education.
Partial Repeal of the Affordable Care Act
A new Congressional Budget Office report shows that repealing the individual mandate would leave 13 million Americans uninsured and result in drastic spikes in insurance premiums. The Senate has already wisely rejected various versions of ACA repeal. Further, we feel strongly that this irresponsible measure has no place in a tax bill.