GOP to Cut Medicare, Education & Add $4T to Deficit for Corporate & Billionaire Tax Breaks
Today, the Republican majority in the US House of Representatives and United States Senate are considering their budget resolutions that outline their diverging plans for their reconciliation bills. The House budget resolution revealed their intent to increase the federal deficit by $4 trillion through their tax breaks for billionaires and large corporations. At the same time, their resolution calls for making as much as $2.5 trillion in cuts to Medicaid, nutrition assistance, education programs, and other vital public programs. If their tax package goes through, the cost would exceed $5 trillion over ten years and would directly take money and healthcare away from millions of Americans to benefit their billionaire and corporate backers.
“The billionaire-backed Trump Administration and their GOP allies in Congress plan to take healthcare away for millions of Americans to fund a $5 trillion giveaway to the ultra-wealthy and big business. Their goal is clear whether it’s one bill or two: they want to increase costs for working and middle-class Americans while exploding the national debt to enrich their wealthy donors.,” said David Kass, ATF Executive Director.”Their proposal would cut $2.5 trillion from Medicaid while extending tax cuts of equal value for the wealthiest Americans. This represents a massive transfer of wealth from average Americans to the ultra-wealthy. We cannot allow millions to suffer significant economic harm just to enrich billionaires and massive corporations—especially when they are wealthier and more profitable than ever. All Members of Congress must oppose this reckless economic plan and let these needless and costly tax cuts for the wealthy expire at the end of the year.”
Today, a coalition of over 126 national, state, and local unions and grassroots organizations—representing millions of working people—called on Congress to reject any legislation that extends the 2017 Trump tax cuts. Please use this link to access the sign-on letter sent to Congress.