Trump Tax Plan Helps Billionaires at Our Expense
Under the GOP tax plan, 83% of the tax cuts will go to billionaires while taxes increase for 87 million Americans – but it’s extraordinarily bad for women. Only 12 Republicans voted against the House Tax Bill. In fact, Chris Collins (R-NY) openly admitted that he had to vote “Yes” to please his donors or face losing their support. And that’s why we must vote him out of office in 2018!
Here’s the breakdown on this anti-woman legislation:
- It cuts taxes for the wealthy at the future expense of women and families. This would hinder women economically and cause less funding due to a deficit for social services that go to helping women. The tax plan would create a 1.7 trillion deficit. Between the two bills the estate tax will be repealed or lowered, it will lower individual tax rate for the rich, cut taxes for large corporations and give large breaks to those inheriting more than $5 million.
- It guts programs for the elderly. By targeting the elderly and aging, this tax bill will disproportionately hurt women. Studies show that women generally assume most of the responsibility for caregiving – not only children, but for elderly and disabled relatives as well. Cutting programs like Meals on Wheels and Medicare will cause devastating effects on women and families – especially since women tend to live longer, have less retirement savings, and lower Social Security benefits due to a lifetime of lower wages. And economists speculate the 1.7 trillion deficit this tax plan causes may lead to calls to defund Social Security in the near future.
- It is an attack on reproductive Health and the ACA. The bill ends the federal health insurance mandate, endangering the Affordable Care Act. Around 13 million people could lose their health insurance by the year 2025 and have premiums go up for middle class families. It would also eliminate the opportunity to deduct expensive out-of-pocket medical costs from their taxable income. This will greatly effect women as studies have shown the women spend more of their earnings on medical expenses than men do. Both bills also include language making fetuses eligible for college savings accounts, strengthening the anti-choice agenda and creating future opportunities for attacks on reproductive health.
- It hurts single mothers. The funding for the Children’s Health Insurance Program for low-income families is endangered. Another blow to families is the grossly unfair Child Tax Credit Increase. “A single mother with two children earning just $14,500 per year would see a $75 increase if the bill were enacted, while a married couple with two children earning $500,000 per year would get a $4,000 increase.” The parental leave tax credit for companies will actually only benefit 13% of workers.
- It will make higher education more expensive. Proportionally more women enroll in undergraduate programs and receive degrees than men and also make up a higher percentage of graduate and doctoral programs.
Contact the New York GOP leaders who voted “Yes” – Representatives Chris Collins, Claudia Tenney, Tom Reed, and John Katko. Let them know you will be one of many NOW activists mobilizing to flip their seats to pro-family, feminist candidates in 2018!
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