According to the nonpartisan Joint Committee on Taxation and the Congressional Budget Office, people making $40,000 to $50,000 would pay a combined $5.3 billion more in taxes by 2027. By contrast, households with income above $1 million would get a $5.8 billion cut.
Put simply, this is a direct transfer of wealth from $40,000-aires to millionaires. People get that, too.
The Quinnipiac survey showed 61 percent of the American public think the wealthy will benefit most from the plan. An ABC poll found nearly the same results. Less than a quarter of respondents to either poll believed the middle class was coming out on top.
Looking back to historical major legislation, the Washington Post found that this tax bill is the second most unpopular piece of major legislation considered by Congress in three decades. (What was number one? The failed Republican health care overhaul from earlier this year.)
Congressional Republicans aren’t acting out of deference to the will of the people. They’re responding to the will of their donors, a fact they’re increasingly brazen about sharing publicly. They’re most concerned about protecting the private jet set, the folks who are already doing phenomenally well, at the expense of middle and working-class families.
It’s not too late for Congress to change course.
Since the House and Senate passed two different versions, they’ve convened a conference committee to produce a final bill. The conference committee has the ability end this mockery and restore faith to their disheartened constituents.
If they continue to prioritize wealthy campaign donors rather than the folks who actually pull the lever for them in the voting booth, they should have no doubt they’ll be held accountable.
This article was originally published on otherwords.org.