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Call your Reps today to stop this $1.5 trillion cut to Medicare and Medicaid: (202) 224-3121
The Trump Tax Scam requires at LEAST the same FIGHT we waged to defeat TrumpCareDoes it make a difference? YES:
According to CNN, one Republican Rep said there might be enough Republican hold-outs to block the budget:
"I haven't done a whip count, but yes, I think there's enough," said Rep. Tom MacArthur (R-NJ).
SIGN UP:
https://www.trumptaxscam.org/
Text NotOnePenny to 21333
GET INFORMED:
https://www.trumptaxscam.org/scam/
FIGHT (call, tweet, email, protest, write letters, call, call, call):
https://www.trumptaxscam.org/democrat-call-script-to-stop-the-trump-tax-scam/
https://www.trumptaxscam.org/republican-call-script-to-stop-the-trump-tax-scam/
https://www.trumptaxscam.org/questions/
https://www.trumptaxscam.org/digital-toolkit/
NOT MUCH TIME:
Where are we now and what happens next
Republicans have now passed a budget resolution in both the House and Senate, strictly on party lines, that unlocks the special reconciliation process in the Senate. That allows them to pass the Trump Tax Scam with only 51 votes.
But that was just the first step. Here’s what we expect next:
- The House has to pass the Senate version of the budget resolution (House vote expected 10/26)
- Finalize the text of the Trump Tax Scam (expected week of 10/30)
- Hold a mark up in the House Ways & Means Committee (week of 11/6)
- Pass it through both the House (sometime before Thanksgiving) and the Senate (sometime after Thanksgiving but before the New Year)
How we can stop it
We defeated TrumpCare with massive constituent power. Defeating the Trump Tax Scam will take the same level of effort, and the stakes are just as high. Remember, the Trump Tax Scam gives massive tax breaks to the wealthy at the expense of Medicaid—just like TrumpCare would have. We can win on the Trump Tax Scam just like on TrumpCare by drawing from the same playbook.
Call your Republican Members of Congress now and hold them accountable for the vote they just took to put the Trump Tax Scam on a partisan fast track. Call your Democratic Members of Congress and tell them to gear up for a fight and do everything they can to slow down and expose the Trump Tax Scam for the scam it is.
This fight will play out over the next several weeks. We’ll have more resources, including planning guides, that will give you the tools you need to defeat the Trump Tax Scam. Together, we can stop massive tax cuts for the rich and corporations that would further fuel insidious racial inequality. Together we can stop Republicans from blowing up the deficit to justify cuts to Medicaid, Medicare, and Social Security. Together, we can win.
_ _ _ _ _ _ _
WHAT DO YOU HAVE TO LOSE if Trump's Tax Scam passes? A LOT:
...Trump wants the media to pat him on the back for the budget passing and for his proposed tax cuts. In contrast, I want the media to highlight for our fellow Americans that the budget passed by the GOP-controlled Senate would massively cut both Medicare and Medicaid in order to give the richest Americans a big, fat and unnecessary tax cut.
First, let's look at the budget bill that the Republican Senate passed Thursday, which Trump is now publicly applauding. It would cut funding by $5 trillion over the next decade. And guess who would suffer the most from these cuts? Senior citizens, the poor and the disabled.
Here's why: The GOP Senate budget calls for "$473 billion in cuts from Medicare over 10 years." That would be a painful blow to the over 55 million Americans -- including my own mother, and maybe yours, too -- who depend on this very popular program to manage the cost of their health care.
. . .
Well, in 2018, middle-income households (those earning $50,000 to $90,000 a year) would receive a tax break on average of $660, or 1.2% of their after-tax income. While they would get an initial, tiny tax cut, the numbers would get worse over time: "By 2027, more than one of every four middle-income families would pay more in taxes."
In other words, the wealthy would get the most benefits from the GOP plan, while the rest of us get crumbs or worse -- a tax increase. But we all knew that. Indeed, a CNN poll released last week found that only 24% of Americans believe their families will benefit from Trump's proposed tax plan. Meanwhile, 31% believe the bill will adversely affect them.
First, let's look at the budget bill that the Republican Senate passed Thursday, which Trump is now publicly applauding. It would cut funding by $5 trillion over the next decade. And guess who would suffer the most from these cuts? Senior citizens, the poor and the disabled.
Here's why: The GOP Senate budget calls for "$473 billion in cuts from Medicare over 10 years." That would be a painful blow to the over 55 million Americans -- including my own mother, and maybe yours, too -- who depend on this very popular program to manage the cost of their health care.
. . .
Well, in 2018, middle-income households (those earning $50,000 to $90,000 a year) would receive a tax break on average of $660, or 1.2% of their after-tax income. While they would get an initial, tiny tax cut, the numbers would get worse over time: "By 2027, more than one of every four middle-income families would pay more in taxes."
In other words, the wealthy would get the most benefits from the GOP plan, while the rest of us get crumbs or worse -- a tax increase. But we all knew that. Indeed, a CNN poll released last week found that only 24% of Americans believe their families will benefit from Trump's proposed tax plan. Meanwhile, 31% believe the bill will adversely affect them.
http://www.cnn.com/2017/10/22/opinions/trump-tax-cuts-opinion-obeidallah/index.html
_ _ _ _ You're a homeowner who itemizes deductions? You're gonna get screwed _ _ _ _ _
PRESIDENT’S TAX REFORM PLAN WOULD ACTUALLY INCREASE TAXES FOR MOST HOMEOWNERS
The National Association of REALTORS® (NAR) has studied the (Trump Tax Proposal) outline and determined that while the tax reform plan is well-intentioned, it misses the mark by leaving too much of the tax burden on the shoulders of homeowners.
The study, known as the “Impact of Tax Reform Options on Owner-Occupied Housing,” highlights a pair of major concerns for homeowners.
Homeowners with adjusted gross incomes between $50,000 and $200,000 would see an average annual tax increase of $815;
Home values could fall by more than 10 percent in the short run following enactment.
“Tax reform and lower rates are worthy goals, but only if we can achieve them in a fiscally responsible way,” said NAR president William E. Brown. “Homeowners put their hard-earned money on the line to make an investment in themselves and their communities and it’s on them to protect that investment.
“Common sense says owning a home isn’t the same as renting one, and America’s tax code shouldn’t treat those activities the same either.”
Brown added that between 80 and 90 percent of all personal federal income taxes in the United States are paid by homeowners. Without the incentives for homeownership, those figures could rise even higher.
The study, known as the “Impact of Tax Reform Options on Owner-Occupied Housing,” highlights a pair of major concerns for homeowners.
Homeowners with adjusted gross incomes between $50,000 and $200,000 would see an average annual tax increase of $815;
Home values could fall by more than 10 percent in the short run following enactment.
“Tax reform and lower rates are worthy goals, but only if we can achieve them in a fiscally responsible way,” said NAR president William E. Brown. “Homeowners put their hard-earned money on the line to make an investment in themselves and their communities and it’s on them to protect that investment.
“Common sense says owning a home isn’t the same as renting one, and America’s tax code shouldn’t treat those activities the same either.”
Brown added that between 80 and 90 percent of all personal federal income taxes in the United States are paid by homeowners. Without the incentives for homeownership, those figures could rise even higher.
http://homeownershipmatters.realtor/issues/presidents-tax-reform-plan-would-actually-increase-taxes-for-most-homeowners/
_ _ _ _ _ You're a saver -- trying to save for retirement? Guess what? You're SCREWED on that, too. _ _ _ _ _
Republicans Consider Sharp Cut in Pre-Tax 401(k) Contrib Limits
WASHINGTON — House Republicans are considering a plan to sharply reduce the amount of income American workers can save in tax-deferred retirement accounts as part of a broad effort to rewrite the tax code, according to lobbyists, tax consultants and congressional Democrats.
It is unclear if Republicans will ultimately include a cap on contributions in the tax bill that they are expected to release in the coming weeks. Such a move would almost certainly prompt a vocal backlash from middle-class workers who save heavily in such retirement accounts and from the asset management industry.
The proposals under discussion would potentially cap the annual amount workers can set aside to as low as $2,400 for 401(k) accounts, several lobbyists and consultants said on Friday. Workers may currently put up to $18,000 a year in 401(k) accounts without paying taxes upfront on that money; that figure rises to $24,000 for workers over 50. When workers retire and begin to draw income from those accounts, they pay taxes on the benefits.
Rumors have circulated for months that negotiators were debating including a cap as a way to help offset the revenue loss from a reduction in business tax rates that Republicans have put at the center of their plan. Reducing contribution limits would be, in effect, an accounting maneuver that would create space for tax cuts by collecting tax revenue now instead of in the future.
It is unclear if Republicans will ultimately include a cap on contributions in the tax bill that they are expected to release in the coming weeks. Such a move would almost certainly prompt a vocal backlash from middle-class workers who save heavily in such retirement accounts and from the asset management industry.
The proposals under discussion would potentially cap the annual amount workers can set aside to as low as $2,400 for 401(k) accounts, several lobbyists and consultants said on Friday. Workers may currently put up to $18,000 a year in 401(k) accounts without paying taxes upfront on that money; that figure rises to $24,000 for workers over 50. When workers retire and begin to draw income from those accounts, they pay taxes on the benefits.
Rumors have circulated for months that negotiators were debating including a cap as a way to help offset the revenue loss from a reduction in business tax rates that Republicans have put at the center of their plan. Reducing contribution limits would be, in effect, an accounting maneuver that would create space for tax cuts by collecting tax revenue now instead of in the future.
https://www.nytimes.com/2017/10/20/us/politics/republicans-tax-401-k.html
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