WASHINGTON – American Federation of Government Employees National President J. David Cox Sr. released the following statement in response to the tax plan unveiled by House leaders:
“The tax plan unveiled by House leadership would mostly benefit those who need the help the least: wealthy individuals and large corporations. While the plan would lower the tax rate for many middle-income families, most would end up having more of their income taxed. And the plan would actually raise taxes on our poorest citizens.
“The House plan would eliminate several deductions and tax credits that have helped working-class families, including being able to deduct student loans and medical expenses and getting a tax credit for adopting a child. The plan also would cap the property tax deduction, repeal the deductions for state and local income and sales taxes, and slash in half the mortgage interest deduction for new homebuyers – which would especially hurt homeowners in high-cost cities such as Washington and New York.
“Too many American workers have been suffering from stagnant wages, rising costs for health care and other essentials, and an economic system that favors the millionaires and billionaires. This plan does nothing to help them.”