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Tax Breaks for the Rich and Powerful? Again?

Photo by Alex Wong/Getty Images
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As if their 2017 tax cuts weren’t enough, anti-worker leaders in the U.S. House of Representatives are ramming through a bill that would cut taxes for richest 1 percent of Americans and corporations even more. And they’re doing it on their way out, before they cede control of the chamber following the worker-friendly results of the November elections.

AFSCME is urging Congress to reject this new package.

“It's troubling, but not surprising, that most of the tax giveaways in the bill benefit the wealthy and corporations. Moreover, the nearly $80 billion price tag will provide yet another excuse for some to propose cutting Social Security, Medicare, Medicaid, education and other vital public services,” AFSCME said in a letter to Capitol Hill lawmakers.

Most working families would receive no benefit from the so-called Retirement, Savings and Other Tax Relief Act of 2018. The bill also wouldn’t create new jobs or repeal loopholes created by the $1.5 trillion tax bill that President Donald Trump signed into law in December 2017 – a law that overwhelmingly favors the rich and the powerful and adds significantly to the deficit.