Taxes and the Racial Wealth Divide: How the New Tax Law Leaves Households of Color Further Behind
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Last year, Congress missed a tremendous opportunity with the Tax Cuts and Jobs Act to provide the wealth-building support low- and moderate-income families need to secure their share of the American Dream. Even worse, by spending a majority of the $1.9 trillion dollars within this law to provide large tax breaks for wealthy, mostly White households and big corporations, Congress made a choice that will supercharge the ever-growing racial wealth divide.
Join Prosperity Now and our partners at the Institute on Taxation and Economic Policy for a timely webinar on Wednesday, October 17 from 2-3:30 pm ET, as we walk through our latest research on why the Tax Cuts and Jobs Act was not “all about delivering relief to hardworking Americans.” We’ll discuss how this law creates a tax system that rewards the rich and widens the economic gap between households of color and White households. We’ll also explore what more racially equitable tax reform might look like—and how the tax code could reduce the racial wealth divide.
- Meg Wiehe, Institute on Taxation and Economic Policy (ITEP)
- Emanuel Nieves, Prosperity Now
- Jeremie Greer, Prosperity Now