Today, Congress voted on the final version of Trump’s tax bill, a massive giveaway to the richest 1% of Americans and corporations at the expense of middle class families. In addition to tax giveaways to the wealthiest, the bill puts 53% of American taxpayers at risk of a tax hike by 2027 – but those corporate tax cuts, which business leaders admit they’ll use to reward wealthy shareholders, are permanent. Even worse, the bill would cut Medicare by $25 billion next year and cuts healthcare to 13 million people.
New Mexico Congressman Steve Pearce, now a candidate for Governor in 2018, unsurprisingly voted for this legislation that further rigs the system against working families. Just take a look at the numbers in New Mexico:
- In 2027, the lowest-earning 60% of New Mexicans will see their taxes increase, while the richest 1% will get to fatten their wallets to the tune of $4,400.
- New Mexican families could see their insurance premiums go up by $1,660 and could result in the loss of health coverage for 90,000.
- The richest 1% of New Mexico taxpayers get a massive tax cut.
American Bridge spokesperson Lizzy Price made the following statement:
“Steve Pearce is drinking too much of Donald Trump’s Kool-Aid if he thinks that egregious tax giveaways to the wealthy, while increasing taxes for those who can least afford it and ripping away their health care, will lead to a stronger New Mexico. In scratching Donald Trump’s back by supporting this horrendous bill, Steve Pearce has turned his own back on New Mexico families. He shouldn’t be surprised when those families turn their back on him in 2018.”