Member-only story
Tax Cuts for the Rich: $4.5 trillion
Power grab in the guise of efficiency. Turn your outrage into civil action
The political chaos all around us is meant to distract from what’s really going on. What’s really going on is a Republican attempt to extend and make permanent the historic tax cuts for the rich that were passed during Trump’s first term. Now is not the time to look away.
The tax cuts in the House Republican’s budget plan amount to $4.5 trillion and 45% of them go to those making more than $450,000 a year. The poorest 20% of households would receive less than $100 in tax cuts. These tax cuts will be paid for by a $4 trillion increase in the deficit and by reducing spending by $2 trillion over 10 years.
Reducing spending
The House Republican’s budget plan requires the standing committees of the US House of Representatives to cut billions of dollars from the departments they oversee. The Consumer Financial Protection Bureau has already been ordered to stop work and the website of U.S. Agency for International Development (USAID) has gone dark.
A bill introduced in January, HR899, would terminate the Department of Education. Last week, when Democratic members of the House attempted to visit the Secretary of Education, Denise Carter, to follow up on a letter signed by 94 US Representatives, they…
