NEW YORK, NY – Beginning yesterday, Congress voted on the reconciled Tax Cuts and Jobs Act. After revisions were made in the Senate, the House passed the final version before landing on the President’s desk.
The tax bill will cause at least 13 million people to lose health insurance and cause the deficit to skyrocket, destroying the social safety net. The final bill includes new restrictions that will prevent nearly one million immigrant children’s families from receiving the child tax credit, driving many DREAMers and their families into poverty.
The New York Immigration Coalition Executive Director, Steven Choi, issued the following statement:
“This tax scam is detrimental to everyone – including immigrant families. Destroying our health system will drive millions of families into poverty and will prevent the parents of immigrant children from receiving the lifesaving child tax credit. Capping state and local deductions will raise individual taxes, which will affect middle class New Yorkers the most. We will not be defeated and will continue to fight so that all people, regardless of where they were born or how much money they earn, have opportunity and justice.”
Background
On November 16th, the U.S. House of Representatives passed their version of the tax reform bill that would drive up the federal deficit, open the door to massive cuts to Medicare and Medicaid, increase child poverty, repeal the individual mandate, make the rich richer, and favor corporations. On December 1st, the Senate passed the Tax Cut and Jobs Act, their version of the bill, which will cost $1.141 billion to the US economy over the next decade and kills local and state tax deductions.