This week in Learn, Love, Lead!, 3 things to know and share about the Republican tax proposals in Congress and what they mean for kids and families.
As of yesterday the U.S. House and Senate have both passed a budget blueprint that paves the way for Congress to advance these dangerous tax proposals.
- The tax proposals are an attack on opportunity for all our kids. The Republican tax proposals will worsen economic inequality and racial inequity in both income and wealth. The claims by backers of the tax proposals that the cuts will translate into savings for middle-class and struggling families just don't add up. To learn more read these two excellent articles: Tax Reform in the Age of Inequality, and Tax Giveaways Don't Trickle Down.
- Take the long view. The Republican tax proposals would take resources from kids for years to come. The tax proposals would transfer enormous amounts of public resources to corporations and millionaires. At the same time, Republican budget proposals would slash funding for many good things all our kids and communities need to thrive like food assistance and health care. Over time, the loss of revenue from proposed tax cuts would tip the budget farther out of balance, driving future proposals for even deeper cuts. Check out this series of briefs from the Center on Budget & Policy Priorities that highlight the terrible costs of the tax proposals.
- Our kids deserve better. The resources proposed to be spent on tax giveaways to corporations and rich individuals could be spent making life better for our kids. This report highlights that just one of the proposed tax cuts for millionaires, the repeal of the estate tax, could fund child care assistance for 4.2 million children, including 97,000 in Washington State. Read more.
Stay tuned next week for an action to urge your Congressperson to invest in what our kids need to grow up healthy, happy and thriving, rather than wasteful tax breaks for millionaires.
When we learn and act together we win results that protect Washington's children. Please share this message with friends, family and colleagues who care about kids.
Thank you for all you do for kids.
Paola and the Children’s Alliance Team