From the desk of Phil Jackson, The Black Star Project
This Proposed Tax Reform Bill will add $1.5 trillion to the existing $20 trillion in U.S. debt. Black children at the bottom of the American society will bear the brunt of this debt.
This Proposed Tax Reform Bill will disproportionately negatively impact Black children by drastically reducing support to education, health care, workforce development, college support, rental assistance, food and nutrition, and more. 10% of White people are poor. 28% of Black people are poor. 38% of Black children, the largest percentage of any demographic in America, are poor.
This Proposed Tax Reform Bill will force the median income of Black Americans to ZERO in 35 years (2053). Black children not yet born will be born into deep poverty for generations to come. Maybe centuries!
This Proposed Tax Reform Bill is one of the largest, fastest and most damaging transfers of benefits and supports for Black children to profits and windfalls for corporations and the rich in American or world history.
Highlights of the proposed tax reform plan:
- Limits deductions for State and Local property taxes up to $10,000
- Limits deductions on mortgage interest on newly purchased homes up to $500,000.
- Eliminates deductions for state or local income or sales taxes
- Limits pre-tax contributions to 401K plans
- Eliminates the ability for individuals to deduct qualified medical expenses
- Eliminates the tax deductions for student-loan interest
- Greatly reduces those who may use tax deductions for giving through charitable contributions by 95%
- Eliminates spousal support tax break
- Eliminates the Individual Mandate for health insurance
- Eliminates the deduction for “fire, storm, shipwreck, or other casualty, or from theft” loss
- Eliminates the deduction for tax preparation expenses
- Eliminates the deduction for people who bike to work
- Eliminates the deduction for moving expenses
How Proposed Tax reform plan will impact all Americans, and especially Black Americans:
- Greatly reduce Medicaid by $5.3 trillion over ten years
- Trigger $400 billion in Medicare cuts over ten years, including $25 billion in the first year
- Greatly reduce food stamps by 30 percent
- Eliminate the ability to write off student loan interest
- Dramatically reduce college Pell Grants
- Significantly reduce the number of Head Start slots by 200,000
- Cut K-12 Education funding by 30 percent
- Eliminate rental assistance to nearly 1 million households
- Cut job training by 40 percent
- Exacerbate the wealth disparity between white and nonwhite Americans
- Put median Black household wealth on a path to hit zero by 2053
- Create an additional $1.5 trillion deficit that would force the gutting of social service programs for decades to come
What must you do?
- Call and write Congressional representatives from all states and districts, and tell them that you are against the currently proposed Tax Reform Plan.
- Share this information with everyone you know, ask them to share this information, and ask them to call and write Congressional representatives.
- Comment on blogs, Facebook, Twitter, Instagram, Linked In and other digital media about this plan.
- Send contributions/investments to organizations working to fight this proposed Tax Reform Plan.
- Vote your interest in every election and encourage everyone you know to do the same.
Please, call your Senators at the Capital Switchboard TODAY at 202-224-3121 and urge them to oppose the Proposed Tax Reform Bill and demand that they fight to protect the programs and services that keep our communities strong! Please also contact the Republican senators below, who are undecided on the plan, and let them know that you want them to vote “no” to this Proposed Tax Reform Bill!
Click Here to Contact Sen. Ron Johnson of Wisconsin
Click Here to Contact Sen. Steve Daines of Montana
Click Here to Contact Sen. John McCain of Arizona
Click Here to Contact Sen. James Lankford of Oklahoma
Click Here to Contact Sen. Bob Corker of Tennessee
Click Here to Contact Sen. Susan Collins of Maine
Click Here to Contact Sen. Jeff Flake of Arizona
Click Here to Contact Sen. Lisa Murkowski of Alaska
Click Here to Contact Sen. Jerry Moran of Kansas
Click Here to Contact Sen. Marco Rubio of Florida