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Update: “Against Kids” Tax Bill Passes House
Last week, the House majority passed the “Against Kids” Tax Cuts and Jobs Act that would raise millions of Americans’ taxes by eliminating deductions on which many families rely. And unfortunately, the Senate’s plan is even worse.
The Senate bill is a one-two punch for America’s families. First, it ends family-friendly tax deductions such as the state and local tax deduction and the personal exemption in order to fund tax cuts that would mostly benefit wealthy individuals. It would threaten our kids’ financial future while leaving little for them in the present -- the nonpartisan Joint Committee on Taxation (JCT) estimated that the bill would add $1.5 trillion to the national debt over the next decade.
Additionally, now the Senate majority leadership has decided to revive the failed attempts to undermine the Affordable Care Act to help pay for these so-called tax cuts. The Tax Cuts and Jobs Act would repeal the landmark 2010 law’s individual mandate, an action that the Congressional Budget Office (CBO) found would cause premiums to rise by 10 percent and lead to 13 million fewer Americans having insurance.
We need your help right now. The Senate is set to vote on this “Against Kids” bill right after Thanksgiving, so please contact your senators and let them know that you oppose this bill. Your voice helped stop the push to repeal and replace the Affordable Care Act before, and we can do it again.