The Tax Fight Is Over. Our Fight to Protect Working Families Is Not.
Editor's Note: The following is the official statement from Prosperity Now President Andrea Levere on the passage of the "Tax Cuts and Jobs Act." This letter originally appeared in Prosperity Now's December 2017 newsletter. Sign up to receive our newsletters and other timely updates by joining the Prosperity Now Community.
Congress just voted to approve its “Tax Cuts and Jobs Act,” one of the most regressive pieces of legislation in a generation.
Instead of narrowing the growing wealth gap, Congress instead chose to protect the interests of a wealthy few. Negotiations in the Conference Committee made few changes to the plan's bottom line: little more than token benefits go to low- and moderate-income families, while millions in permanent tax breaks go to wealthy individuals and corporations.
While the final bill was rushed through Congress in a matter of days, we don't yet know the full impact it will have on working families. What we do know is that—just like earlier versions—this so-called attempt at tax reform will explode the federal deficit and force cuts to critical programs, including Medicare, Medicaid, food assistance and more.
At Prosperity Now, we believe working families deserve better.
We believe working families deserve a tax plan that takes significant strides to reduce financial insecurity. We believe they deserve to live in a society that isn’t defined by ever-accelerating inequality. They deserve tax reform that allows more Americans to keep more of their paycheck, and to have access to wealth-building incentives afforded by the tax code.
Both the House and the Senate have failed the American people. But, while this battle may be over, our broader fight is not. There's still much work to be done. In the coming months, we'll work to protect vulnerable families from additional threats to programs and services they rely on. In the long term, we'll work to create solutions that actually fix our country's growing wealth divide, rather than letting it continue unabated. And, in the end, we will create pathways to prosperity for families that need it most.
The work ahead is daunting, and we can’t do it alone. That’s why—today and every day—we appreciate all you do to stand up for your community.