Spotlight: It's a tax scam, plain and simple

I have been a longtime advocate for tax reform but have always said it must be done in a way that puts hardworking families first.

So when this debate began in Congress, I laid out the principles that needed to be a part of any package to earn my support. This included cutting taxes for the middle class, bringing down the cost of health care, making it easier for businesses to create jobs, providing economic incentives for employers to invest in their workforce, and maintaining financial discipline.

As this debate progressed, it became clear that Speaker Ryan was not interested in working across the aisle.

Worse, he had no intention of helping heartland families, many of whom are still struggling.

Instead, he introduced a tax scam designed to shift wealth from the poor and middle class to the ultra-wealthy — literally a reverse Robin Hood that takes from the 99 percent to give to the 1 percent.

While we are still grappling to understand the long-term ramifications of this bill — it was rushed through in an intentional effort to minimize scrutiny — these are the facts:

* According to the non-partisan Tax Policy Center, 86 million middle-class families will see tax increases. And 81 percent of the legislation's benefits go to the top 1 percent.

* The non-partisan Committee for a Responsible Federal Budget projects this bill will add up to $2.2 trillion to the national debt.

* The non-partisan Congressional Budget Office says 13 million Americans may lose their health insurance because of how this legislation undermines the Affordable Care Act. The rest of you can expect to pay an extra 10 percent in premiums to make up for those who don’t have coverage.

Congressional Republicans claim this is a big tax cut for working families. It's simply dishonest.

While it’s true some will see miniscule tax reductions next year, these are temporary and turn into significant tax hikes in the near future.

Meanwhile, corporate special interests were gifted a permanent tax cut. It’s no wonder Wall Street billionaires are popping champagne corks. Meanwhile, teachers, welders and farmers are getting table scraps.

It’s also no wonder the Koch brothers, among the world's richest people, are spending millions on advertising to try to convince you just how great this deal is. Well, it is — for them.

I have even deeper concerns about what comes next.

Now that they have created a situation where working families and future generations are expected to shoulder this explosion in the national debt, the next step in their plan is to cut Social Security, Medicare and Medicaid. That's not just my opinion. It’s been acknowledged by Ryan and Sen. Marco Rubio.

In the new year, I will continue standing up for hardworking families.

And as this tax scam kicks in, see if you can feel how this trickle-down is working for you.

 

Democrat Cheri Bustos represents the 17th District including Peoria in the U.S. House of Representatives.

Friday

Cheri Bustos

I have been a longtime advocate for tax reform but have always said it must be done in a way that puts hardworking families first.

So when this debate began in Congress, I laid out the principles that needed to be a part of any package to earn my support. This included cutting taxes for the middle class, bringing down the cost of health care, making it easier for businesses to create jobs, providing economic incentives for employers to invest in their workforce, and maintaining financial discipline.

As this debate progressed, it became clear that Speaker Ryan was not interested in working across the aisle.

Worse, he had no intention of helping heartland families, many of whom are still struggling.

Instead, he introduced a tax scam designed to shift wealth from the poor and middle class to the ultra-wealthy — literally a reverse Robin Hood that takes from the 99 percent to give to the 1 percent.

While we are still grappling to understand the long-term ramifications of this bill — it was rushed through in an intentional effort to minimize scrutiny — these are the facts:

* According to the non-partisan Tax Policy Center, 86 million middle-class families will see tax increases. And 81 percent of the legislation's benefits go to the top 1 percent.

* The non-partisan Committee for a Responsible Federal Budget projects this bill will add up to $2.2 trillion to the national debt.

* The non-partisan Congressional Budget Office says 13 million Americans may lose their health insurance because of how this legislation undermines the Affordable Care Act. The rest of you can expect to pay an extra 10 percent in premiums to make up for those who don’t have coverage.

Congressional Republicans claim this is a big tax cut for working families. It's simply dishonest.

While it’s true some will see miniscule tax reductions next year, these are temporary and turn into significant tax hikes in the near future.

Meanwhile, corporate special interests were gifted a permanent tax cut. It’s no wonder Wall Street billionaires are popping champagne corks. Meanwhile, teachers, welders and farmers are getting table scraps.

It’s also no wonder the Koch brothers, among the world's richest people, are spending millions on advertising to try to convince you just how great this deal is. Well, it is — for them.

I have even deeper concerns about what comes next.

Now that they have created a situation where working families and future generations are expected to shoulder this explosion in the national debt, the next step in their plan is to cut Social Security, Medicare and Medicaid. That's not just my opinion. It’s been acknowledged by Ryan and Sen. Marco Rubio.

In the new year, I will continue standing up for hardworking families.

And as this tax scam kicks in, see if you can feel how this trickle-down is working for you.

 

Democrat Cheri Bustos represents the 17th District including Peoria in the U.S. House of Representatives.

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