Happy Holidays to the Super Wealthy & Multi-National Corporations…but not the rest of us

President Trump and GOP leadership in Congress got their Christmas wish to have the final tax legislation passed and signed before the holiday break.

But the changes to our tax code, threat to health coverage, and the risk to other safety net programs as a result of this bill were not on the vast majority of Americans’ wish lists. This tax plan is not what working families asked for, and it is certainly will not deliver smart, fair tax policies that support working low- and middle-income folks.

The only ones who are excited to receive their gifts this holiday season are the wealthiest 1 percent and multinational corporations because they get the biggest presents of all, while millions of Americans are handed a lump of coal that ends health care for millions of people, increase taxes on low- and middle-income families, and increases the national deficit.

Regardless of how you celebrate this time of year, there is good reason to be worried.

On the heels of this massive giveaway to the wealthy and corporate interests, many members of Congress have said that they intend to come back next year and seek deep cuts that would likely take away health care, food assistance, and supports for people with disabilities from families that struggle to afford the basics.

At the Montana Budget and Policy Center, we believe that Montanans deserve strong, healthy, and safe communities. To continue to grow Montana’s economy and ensure our children and grandchildren have a bright future, we need to invest in our people. The backbone of this investment is a fair tax structure that provides adequate revenue to properly invest in necessary public services while also preparing for the future demands of an evolving economy and changing demographics.

We opposed this tax bill because it severely limits our ability to invest in our communities. Instead of strengthening our state, it will break the backs of working people and give an extra boost to special interests, the wealthy, and out-of-state corporations. To read about the winners and losers of the final tax bill, go to our blog posted last week.

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