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Corporations Receive Permanent Tax Cut, While We Get Smaller, Temporary Cut
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Dec. 4, 2017 | TAX REFORM | Just before 2 AM Saturday morning, Senate Republicans passed the most sweeping tax legislation in 30 years. The final version of the three-week-old bill was not released until four hours before the vote. There have been no hearings on the bill and none of the bipartisanship seen during the last major tax overhaul in 1986. There were a smattering of last-minute changes tucked into the nearly 500-page bill, but the core of it is quite simple: a permanent tax cut for corporations combined with much smaller, and temporary, benefits for everyone else. Over the next decade, the $1.4 trillion tax cut would disproportionately reward the wealthiest Americans while piling on the national debt—which in turn will likely be used by Republicans as a justification for cutting Social Security, Medicare, and Medicaid… Mother Jones
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