UnidosUS Decries Passage of Senate GOP Tax Bill
Massive Giveaway to the Rich Will Be Costly for Working- and Middle-Class Americans
WASHINGTON, DC—Today, Republicans in the U.S. Senate passed a bill that gives massive tax cuts to the richest Americans and large corporations, and leaves most Americans worse off. The vote along party lines happened despite a recent Congressional Budget Office (CBO) analysis showing that Americans earning less than $30,000 a year would be worse off under the Senate bill right away. Within 10 years, most households earning $75,000 a year or less would face higher taxes, including seven out of 10 Latino families. Estimates also show the new tax plan will explode the U.S. deficit, adding more than $1.4 trillion over 10 years.
“There is no doubt that these tax cuts for the richest Americans will come at a heavy price for our families and children, and will pass a crushing deficit to future generations. And to pay for this unnecessary, short-sighted giveaway, Republicans in Congress also aim to enact massive cuts to programs that help millions of American families, including many Latinos, put food on the table. This is why poll after poll shows the vast majority of Americans reject the proposal,” said UnidosUS President and CEO Janet Murguía.
The Senate tax bill would also strip eligibility for the Child Tax Credit from certain taxpaying immigrants, which threatens the well-being of nearly four million U.S.-citizen Latino children. Further, the bill eliminates the individual mandate, a critical part of the Affordable Care Act (ACA) that makes coverage affordable. According to the CBO, removing the mandate would increase premiums by approximately 10 percent, adding 13 million to the number of uninsured Americans. About one million Latinos rely on health coverage through the ACA; eliminating the mandate and the resulting rising costs could cause many to become uninsured.