RI Can’t Afford the Republican-Trump Tax Bill
Led by President Trump, Republicans in Washington are working right now to pass a tax cut for the wealthiest people in America, paid for by the middle class. While millionaires and billionaires get tax cuts on average of $50,000 a year, 64 million middle class families across America will see their tax bill stay the same or go up.
If that weren’t bad enough, the latest version of the Republican-Trump Tax Bill repeals the individual mandate, which will spike the costs of health care premiums. Here in Rhode Island, we’ve cut the percentage of uninsured Rhode Islanders by nearly two-thirds.
If President Trump and his Republican allies really want to reform the tax code, they should put working families first. Millionaires don’t need the relief – hardworking, middle class Rhode Islanders do.
Full Text: RI Can’t Afford the Republican-Trump Tax Bill
November 17, 2017
Right now, Republicans in Washington are trying to pass a tax cut for the wealthiest people in America. And it’ll be paid for by middle class, working families in places like Cranston, East Providence and every other city and town in Rhode Island. The latest version of the Republican-Trump Tax Bill repeals the individual mandate, which will jack up health care premiums and create chaos and uncertainty across our economy.
Rhode Island’s been a leader on health care. Since the Affordable Care Act took effect, we’ve cut the percentage of Rhode Islanders without insurance by nearly two-thirds. Today, more than 95 percent of Rhode Islands have health coverage. And we have one of the lowest rates of premium growth in America.
The Republican-Trump Tax Bill is a bad deal for Rhode Islanders. The President has said it’s the biggest tax cut in American history—it’s not.
Like every other version of Trump Care, the Republican-Trump plan gives a massive tax break to millionaires and billionaires, but very little to the middle class. According to the Center on Budget and Policy, more than 64 million middle class and low-income families across the nation will see their tax bill stay the same or go up. But millionaires and billionaires will get a tax break, on average, of nearly $50,000.
In recent years, our state’s economy has gotten stronger. People are back at work. But people need to feel more secure. After all, it wasn’t that long ago that Rhode Island had the highest unemployment rate in America. Over the last three years, we’ve come together in Rhode Island and have given middle class families relief: We cut the car tax, we raised the minimum wage and we’ve invested in job training so people can stay competitive.
If President Trump and his Republican allies really want to reform the tax code, they should put working families first. Millionaires don’t need the relief – hardworking, middle class Rhode Islanders do.
Thank you, and have a great weekend.