November 02, 2017
House Tax Bill Has Low-Income Seniors Subsidizing the Top 1%
Retirees are Already Calling Capitol Hill Switchboard to Protest
The following statement was issued by Richard Fiesta, Executive Director of the Alliance for Retired Americans, regarding today’s rollout of the GOP tax bill by the House Committee on Ways and Means.
“The bill unleashed by the House today moves us one step closer to massive, unnecessary tax breaks for the wealthy and corporations. Seniors, low-income and middle-class taxpayers will be footing the bill for these changes through health care cuts, by losing the ability to deduct all their state and local income and sales taxes, and by limiting their ability to deduct their property taxes.
“This is the latest cruel scheme. The tax cuts for the wealthiest Americans are so massive that they plan to cut nearly $500 billion from Medicare and more than $1 trillion from Medicaid over the next 10 years to pay for them – but they will still add $1.5 trillion to the deficit.
“Exacerbating the problems they are creating, the House and the Trump Administration would no longer allow Americans, including retirees, to deduct their medical expenses, including nursing home costs or out of pocket medical or dental expenses from their taxes.
“Members of the Alliance for Retired Americans are already calling the Capitol Hill switchboard to protest this tragedy in-the-making.”
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