Posted at https://www.chn.org/2017/12/04/will-pay-children-grandchildren/#.WiV8SVWnEdU
By CHN
December 4, 2017
Editor’s note: Deborah Weinstein, Executive Director of the Coalition on Human Needs, issued the following statement Monday, Dec. 4 in response to the tax bills passed by the Senate and House:
“The Senate and House members who voted to hand trillions of dollars in tax cuts to corporations and wealthy individuals have made a clear and bitterly disappointing choice: they opted for massive giveaways to corporations and the rich and against investments in our future.
“The Joint Committee on Taxation estimated that, even counting the projected economic growth that would come from the tax cuts, the Senate bill would increase the deficit by $1 trillion over 10 years. This projection confirms the estimates of other respected economic analysts who agree that the tax cuts do not pay for themselves. Instead, most Americans will pay to give the richest among us still more.
“We will pay in increased taxes and, even worse, in lost health care, education, and other services. President Trump and some in Congress have rushed to say that once they enact their tax plan, they will move to cut vital programs like Medicaid, SNAP/food stamps, and aid for people with disabilities. Senator Rubio did not wait until the ink was dry on the Senate tax bill to call for cuts to Medicare and Social Security. But services of all kinds will be hit: health care, education, road maintenance, housing assistance, child care, protection against epidemics and environmental damage, Meals on Wheels, and much more. Low- and middle-income families will in 2027 pay higher taxes and lose services; low-income families with children will lose the most.
“One thing is clear: when those who voted for these irresponsible tax cuts invoke the deficit as the excuse to cut vital services, their statements will ring hollow. Trillions of dollars have been given away, funds that could have been invested in improving our health care system, increasing the stock of affordable housing, improving K-12 education and relieving families of the burden of college debt, combating opioid addiction and rebuilding infrastructure. Congress can still turn away from this grossly irresponsible payout to the rich. If it does not, we will pay, and our children and grandchildren.”
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