UPDATE: November 21, 2017
It bears repeating! The majority party in the U.S. Congress is in the process of enacting a tax code bill that would cut corporate taxes from 35% to 20% while threatening programs that benefit retirees. Since our Legislative Alert of last week, the House has passed its version of the Tax Cuts & Jobs Act, which would add an estimated $1.5 trillion (that’s trillion with a “t”) to the national debt over the next ten year. The Senate may vote on its own version this week or next week.
Though it is falsely billed as a tax cut for all, businesses will receive the lion’s share of the tax cuts—about $1 trillion or two-thirds of the total—according to the non-partisan Joint Committee on Taxation. Depending on whether you look at the House or Senate versions, the measure could gut the Affordable Care Act, take away deductions for house payments, for college tuition, for medical expenses and for local tax payments. That’s NOT a middle class tax cut, and it is not good news for retirees! The short-term consequences are dire! The long-term consequences could be disastrous! Critics worry that, in addition to boosting the national debt, the measure will open the gate to nearly $500 million in cuts to social programs like Medicare, Medicaid and even Social Security. After all, where else can the government make up the loss of a $1.5 trillion in revenue to pay for tax cuts that benefit corporations and the ultra-wealthy?
Don’t wait! Call the switchboard at the U.S. Congress and ask to speak to Senator Richard Burr or to Senator Thom Tillis . The number, which is not toll-free, is (202) 224-3121. Be patient if you get a recorded message. Follow the instructions to leave a message. Your message should be short and simple, something like:
“I am [your name], a constituent from [your town.] I am a retiree and I want you to vote against the Tax Cuts & Jobs Act! This act will hurt me and many others I care about. I will be very angry and disappointed if you vote for it! Good-bye.”
Flood Washington with calls! For the price of two short calls, you can help protect your retirement security!
November 16, 2017
Dear NCRSP Leaders & Members:
The majority party in the U.S. Congress is pondering a tax code bill that would cut corporate taxes from 35% to 20% while threatening programs that benefit retirees. Ironically, the Tax Cuts & Jobs Act would add an estimated $1.5 trillion (that’s trillion with a “t”) to the national debt over the next ten years—the sort of move that conservative ideologues have denounced for years. Now they seem to support a deficit. House and Senate committees are discussing the bill this week, and final votes may be taken as early as this week or next.
Though it is falsely billed as a tax cut for all, businesses will receive the lion’s share of the tax cuts—about $1 trillion or two-thirds of the total—according to the non-partisan Joint Committee on Taxation. Depending on whether you look at the House or Senate versions, the measure could gut the Affordable Care Act, take away deductions for house payments, for college tuition, for medical expenses and for local tax payments. That’s NOT a middle class tax cut, and it is not good news for retirees! Critics worry that, in addition to boosting the national debt, the measure will open the gate to nearly $500 million in cuts to social programs like Medicare, Medicaid and even Social Security. After all, where else can the government make up the loss of a $1.5 trillion in revenue to pay for tax cuts that benefit corporations and the ultra-wealthy?
Don’t wait! Call the switchboard at the U.S. Congress and ask to speak to Senator Richard Burr or to Senator Thom Tillis and to your U.S. Representative. The number, which is not toll-free, is (202) 224-3121. Be patient if you get a recorded message. Follow the instructions to leave a message. Your message should be short and simple, something like:
“I am [your name], a constituent from [your town.] I am a retiree and I want you to vote against the Tax Cuts & Jobs Act! This act will hurt me and many others I care about. I will be very angry and disappointed if you vote for it! Good-bye.”
Flood Washington with calls! For the price of two or three short calls, you can help protect your retirement security!
Tom Bennett
Executive Director, NCRSP
