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December 20, 2017
Advancing Justice Condemns Passage of the “Tax Cuts and Jobs Act”
New tax law will dismantle key provision of the Affordable Care Act, benefit the wealthy and corporations over working families
Asian Americans Advancing Justice (Advancing Justice) is extremely disappointed with today’s passage by both the House and Senate of H.R.1 Tax Cuts and Jobs Act, which is expected to be signed by the President.
The tax bill will have a devastating impact on millions of working families. The wealthy and corporations benefit the most immediately. An analysis by the nonpartisan Tax Policy Center found that 83 percent of households in the top 1% would receive a tax break in 2018 with an average benefit of $193,380. For the middle 20 percent of earners, the average tax cut would be $930. Over half the bill’s total benefits would go to the top 10 percent of earners. (more…)
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