The tax plan released by House Republican leaders and backed by President Trump is a bad deal for middle-class families and students across the country. It is a $5 trillion tax plan that gives away huge tax breaks for the wealthiest and corporations, while putting middle-class families at risk of higher taxes.
The plan eliminates the popular educator tax deduction that allows teachers to deduct eligible out-of-pocket classroom spending up to $250. Congress made this deduction permanent in 2015. Almost every educator pays out of pocket for school supplies. In fact, one estimate shows that educators spend between $500 and $1000 a year out of pocket. 3.7 million tax returns filed in 2015 claimed the educator tax deduction.
Connecticut’s congressional delegation recognizes the harm this tax plan would inflict on teachers and middle-class families and strongly oppose it. Watch what they had to say last night about why the plan is wrong for Connecticut and the country.
Watch Rep. Larson stand up for teachers in a passionate criticism of the GOP tax plan.
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Posted by CREDO Mobile on Wednesday, November 8, 2017
Watch questions from Washington Congresswoman Suzan DelBene that demonstrate just a few of the ways that the GOP tax plan treats corporations better than people.
This remarkable line of questioning from Congresswoman Suzan DelBene demonstrates just a few of the ways that the GOP tax plan treats corporations better than people. Under the Republican plan, corporations are still allowed to deduct state and local taxes. Workers are not. Corporations are still allowed to deduct business expenses. Teachers are not. Corporations are still allowed to deduct more than $10,000 in property taxes. Homeowners are not. Corporations are still allowed to deduct moving expenses. Families are not. And this is on top of a $1.5 trillion corporate tax cut. Let's be clear, this is not a "middle-class tax cut." Working families get the crumbs and the super-wealthy get everything else.
Posted by Congressman Mark Takano on Monday, November 6, 2017
The tax plan would also eliminate important parts of the state and local tax deduction—taking money out of the pockets of 44 million middle-class families across the nation. Eliminating any part of the state and local tax deduction equals a tax increase on middle class families that could have a negative, ripple effect on states’ and local communities’ ability to fund public services, like public education.
Other provisions in the tax plan would
- Create a voucher scheme that allows the wealthy to set aside money for private school expenses.
- Eliminate the student loan interest deduction. Currently borrowers paying off education loans can deduct up to $2,500 of interest paid on student loans.
- End the federal adoption tax credit, which is worth up to $13,570 for qualified adoption expenses.
- Give huge tax breaks to corporations that shift jobs and profits offshore by charging a much lower tax rate on the profits they earn overseas.
- Makes corporate tax cuts permanent, while eliminating the $4,050 per child tax exemption and only offering a temporary $300 tax credit for families.
Contact your elected officials
Thank your U.S. senators and representative for speaking out against this misguided proposal. They need to hear from you so they can share with their Republican colleagues how devastating this tax plan would be for the middle class.
Click on the links below to share your stories about how this tax plan would negatively affect you, your family, and your students.