WASHINGTON, DC — Union members across the USA are speaking out against the ‘tax cut for the rich,” said AFL-CIO President Richard Trumka. Trumka made his position crystal clear by stating that any tax bill should increase revenue for the nation and ensure that corporations pay their fair share. “Working people are tired of hearing how tax giveaways for Wall Street billionaires and corporations will supposedly trickle down to the rest of us. Too many politicians and pundits want us to believe our country is broke, and we have no choice but to demand sacrifices from working people, yet they have no trouble finding trillions of dollars to waste on tax giveaways for people who do not need them.” said Trumka. “Wall Street, big corporations and the wealthy must pay their fair share of taxes,” continued Trumka. “Working people are tired of hearing how tax giveaways for Wall Street billionaires and corporations will supposedly trickle down to the rest of us,” said Trumka.
The Republican tax initiative gives away huge tax breaks for the wealthiest and corporations, while putting middle-class families at risk of higher taxes. This plan expands an education tax loophole that would further benefit the wealthy and allow them to set aside money for private school expenses while cutting tax deductions for the middle class. Eliminating the state and local tax deduction equals a tax increase on middle class that will effect local communities’ ability to provide public services.
Government Employees President J. David Cox said “The plan would actually raise taxes on our poorest citizens. The House plan would eliminate several deductions and tax credits that helped working-class families, including being able to deduct student loans and medical expenses and getting a tax credit for adopting a child. The plan also would cap the property tax deduction, repeal the deductions for state and local income and sales taxes, and slash in half the mortgage interest deduction for new homebuyers…Too many American workers have been suffering from stagnant wages, rising costs for health care and other essentials, and an economic system that favors the millionaires and billionaires. This plan does nothing to help them.”