Austin, TX — House Republicans just passed a tax bill that gives the wealthy and large corporations a huge payday at the expense of hardworking Americans. 61% of Americans think that the tax bill would benefit the wealthy, only 6% said the bill would benefit low-income people [TIME, November 15]. This tax plan is a scam, and Americans see right through it.
Who this bill hurts the most:
It hurts teachers by removing the tax-credit that reimburses teachers for buying their own school supplies.
Over 830,000 Texas college students and graduates with student loans would not be able to deduct the interest paid on their loans.
The tax bill would force billions in Medicare cuts, putting over 3,600,000 Texas Medicare beneficiaries at risk.
It would further sabotage healthcare by repealing the individual mandate, which would raise premiums by double digits.
Texas Democratic Party Executive Director Crystal K. Perkins issued the following statement:
“This Republican tax bill would squeeze everyday Texans’ wallets while providing huge tax giveaways to big corporations that can and should pay their fair share.
“Republicans ought to be ashamed of themselves for hurrying through a tax bill before Americans realize what’s in it or the consequences.
“The fact is, Texas Republican Congressman Hurd (TX-23), Sessions (TX-32), Culberson (TX-7), and Smith (TX-21) aren’t looking out for everyday Texans and it’s going to haunt them at the ballot box in 2018.”