11/25: Protest the Senate Tax Scam Bill on Dec. 2
What: Tax Scam in the Senate; Cory Gardner
SUGGESTED MEMBER ACTION: BRING SIGNS
“NO on Tax Scam Sen. Gardner”
“No Cuts to [Medicaid/Medicare/Social Security…]”
“Vote NO Sen. Gardner It’s A Ripoff”
WHY THIS IS IMPORTANT:
- The bill would lower the corporate tax rate from the current 35% to 20% — permanently, the largest corporate tax reduction in U.S. history.
- Repeals the Affordable Care Act’s requirement that most people have health insurance, reducing coverage for 13 million people.
- It would switch the U.S. to a “territorial tax system“ that taxes corporations based on domestic income only rather than worldwide income. So that 20% would not include any money made overseas. (Fortune)
- It would eliminate the “Alternative Minimum Tax (AMT),” which prevents companies that are making more than $7.5 million every three years from reducing their tax rate below a certain level. (Ways and Means)
- Cuts Medicaid by $179 Billion
- Bill opens the Arctic National Wildlife Refuge to oil & gas drilling, to coax Sen. Lisa Murkowski of Alaska to vote yes.
- Would raise the deficit $1.5 Trillion over ten years to fund a tax cut of which half goes to the Top 1%
- Raises taxes on all middle-class families making $75,000 or less by the end of the decade in order to provide permanent tax relief to corporations.