The Republican tax plan passed by the Senate this morning WILL HURT FLORIDA FAMILIES. It’s an irresponsible bill that most members haven’t even read.
Many residents will see their taxes go up, widespread benefits would be eliminated, and $1.5 trillion would be added to the national debt.
We need to reform our tax code. We need to improve it for working and middle-class families and small businesses. But what Republicans in Washington are doing only benefits corporations and the ultra-wealthy. Not only that, it explodes the deficit with no real plan to unsaddle our kids and grandchildren from trillions of dollars in debt.
For example, by doubling the standard deduction and eliminating state and local tax deductions, this tax bill makes the mortgage interest deduction useless for anyone with a home valued under $800,000—nearly four times the value of most Florida homes.
Under the current system, the deductions save Florida households an average of $7,000-$8,000 per year. With their removal, states and cities would have to recoup that revenue by raising taxes on local residents in order to keep schools open, law enforcement and firefighting services operational, and other vital services intact.
This is not real tax reform. This is a boondoggle for corporations, lobbyists, and rich donors. Don't let Republicans fool you into thinking this is a good idea because the country will suffer greatly if this ever gets signed into law.
Please make a donation to my campaign for Congress in FL-6 so we can have leaders that actually represent people, not dollars and corporations:
- Nancy Soderberg