Center for American Progress

This tax plan is a disaster for American children and families
In the News

This tax plan is a disaster for American children and families

Authors Melissa Boteach and Seth Hanlon explain why the tax plan put forth by President Donald Trump and congressional Republicans is part of a broader agenda that cuts investments in low- and middle-income families.

What if we told you that the tax plan that President Trump and Republican leaders in Congress released on Sept. 27 would cut taxes for the average household in the richest 1 percent by $207,060, but we couldn’t guarantee your family’s taxes wouldn’t go up? What if they offered to give your family a $40 tax cut, but proposed to pay for the tax cuts by actively undermining your children’s health care and education?

You’d likely say that’s a bad deal. But that’s exactly what they’re offering. The core of the Republican tax plan is enormous tax cuts for corporations and the wealthy. Now they are trying to “fix” the true consequences of their tax plan by increasing the child tax credit. But the plan is simply unfixable. Even if it is revised to include a larger child tax credit, families with children stand to lose far more from the Republican tax plan than they have to gain.

The above excerpt was originally published in The Hill. Click here to view the full article.

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Authors

Seth Hanlon

Senior Fellow

Melissa Boteach

Senior Vice President, Poverty to Prosperity Program