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Cory Alexander Haywood OW Contributor | 12/21/2017, midnight
President Donald Trump and Capitol Hill Republicans this week unveiled their new tax bill touted as a “Christmas present” for American households. However, tax payers in California may end paying a significant price for the passage of this new tax legislation as the many write-offs for state and local income taxes—including mortgage interest deductions—will be eliminated.
Critics say the 429-page bill, the “Tax Cuts and Jobs Act,” is skewed heavily toward businesses and the wealthy. These reservations were apparently not lost on some California GOP representatives such as Darrell Issa (CA-49), Dana Rohrabacher (CA-48) who decided to vote against the measure, while House Majority Leader Kevin McCarthy (CA-23), Steve Knight (CA-25) and Tom McClintock (CA-4) each opted to vote in favor the bill after some hand-wringing and extensive consultation with their constituents.
Knight heard from residents of his district earlier this week as dozens marched in front of his Antelope Valley headquarters in protest of his decision. In the first version of the bill in November, Knight reportedly voted in favor of removing tax deductions for people seeking disaster relief. This move just weeks before the tragic Southern California wildfires drew the anger of the protesters.
The Democrats have been quick to pounce on the imbalance—and “unfairness”—of the tax bill. Californias, for instance, will see their state tax and property tax deductions capped at $10,000.
“What we are seeing is a plan that exacerbates the unfairness and iinequality in our tax code,” said aSenate Majority Chuck Schumer. “The Republican tax plan would put two thumbs down on a scale already tipped toward the wealthy and powerful. Surely we can do better.”
It’s the season of giving, but there’s currently a 71-year-old Grinch lurking in the Oval Office. Word on the street is that he’s not too fond of Black people, independent women and, least of all, illegal immigrants.
Trump’s budget proposes to cut some $2.5 trillion over the next decade across programs for low- and moderate-income people, including a range of important programs for which the states receive significant federal funds:
Trump’s budget would drive millions of people off of food stamps, part of a new wave of spending-cut proposals that already are getting panned by lawmakers in both parties on Capitol Hill.
Cuts include a whopping $193 billion from food stamps over the coming decade — a cut of more than 25 percent — implemented by cutting back eligibility and imposing additional work requirements, according to talking points circulated by the White House.
The program presently serves about 42 million people. The food-stamp cuts are several times as large as those attempted by House Republicans a few years back and make up the bulk of a 10-year, $274 billion proposal that’s labeled as welfare reform.
The fleshed-out proposal follows up on an unpopular partial release in March that targeted the budgets of domestic agencies and foreign aid for cuts averaging 10 percent — and made lawmakers in both parties recoil.
Trump wrote in his letter to Congress, “We must reform our welfare system so that it does not discourage able-bodied adults from working, which takes away scarce resources from those in real need. Work must be the center of our social policy.”