From the office of Rep. Jared Huffman:
Rep. Huffman Blasts Passage of Final GOP Tax Scam
Washington, D.C.- Congressman Jared Huffman (D-CA) today voted against the final Republican tax scam, which will harm families across the North Coast, drive up the deficit, lavish a huge tax windfall on the wealthiest Americans, corporations, and special interests, all while threatening the economic health of our country. The Republican tax scam passed the House today on a party-line vote and will be voted on today in the United States Senate.
“I’m deeply saddened that this reckless and unfair Republican tax scam may soon be the law of the land,” said Rep. Huffman. “Many Californians and middle-class families will see higher tax bills while President Donald Trump and Senator Bob Corker will enrich themselves through tax loopholes and windfalls. Seniors in particular are going to end up paying for this scheme, which explodes the deficit and will lead to billions in cuts from Medicare and other safety net programs.”
The bill especially harms California families by slashing their state and local tax deductions, while allowing those deductions to remain for corporations. Under the bill approved by Congress today, more than half a million California households that make less than $76,530 will be facing an average tax increase of $620, while almost two million California households with an average income of $116,500 will face an average tax increase of $1,890.
In addition, the Republican tax scam:
- Raises taxes on 86 million middle class families across the nation;
- Gives 83 percent of the tax cuts to the wealthiest 1 percent;
- Makes tax cuts for families and individuals temporary, while making corporate tax cuts permanent; and
- Opens the pristine Arctic National Wildlife Refuge to dangerous oil drilling.
From the office of State Sen. Mike McGuire:
Senator McGuire to Chair Hearing on Impacts of Federal Tax Reform for everyday Californians
Senator Mike McGuire, Chair of the Senate Governance and Finance Committee, will hold a timely informational hearing on Wednesday, January 10 to discuss the significant impacts the Federal Tax Bill, recently rushed through by Congress, will have on California residents.
“The richest in America have something to celebrate today with President Trump’s tax plan, middle class and low income Californians, not so much,” said Senator Mike McGuire. “The plan is a horror story as 1.7 million Californians will lose their health insurance, the plan adds $1 trillion to the national debt, eliminates the deduction for wildfires unless declared a federal disaster, which is horribly cruel and punitive, and it caps the state mortgage, sales and property tax deductions which will be a massive hit to California’s middle class.”
The Senate Governance and Finance hearing – “A Preview of Federal Tax Reform: What it Means for California’s 99%” – will be held at 9:30 a.m. on Jan. 10 in the State Capitol, Room 112. The hearing will be livestreamed at www.senate.ca.gov.
“We look forward to the hearing and shining some much needed light on the bill’s negative impacts on California’s working families,” said Senator McGuire