Tuesday, May 23 (NEW YORK, NY) – Tamara Draut, Vice President of Research and Policy at Demos, a New York-based public policy organization and think tank, issued this statement following the unveiling of President Trump’s full budget to Congress:
“The deeply alarming budget released by the Trump administration today would wreak havoc on working- and middle-class people, including many of the very people who sent him to the White House, by cutting services and programs that support our most vulnerable communities.
New York, NY – Today, the Republican-led U.S. Senate voted on strictly partisan lines to approve a new tax plan that will increase taxes on working- and middle-class Americans while lowering taxes on billionaires and wealthy corporations. In response, Tamara Draut, Vice President of Policy and Research at Demos released the following statement:
New York, NY – Today, Heather McGhee, President of Demos, issued the following statement after the U.S. House of Representatives and U.S. Senate passed the GOP Tax Scam:
“Today, Congressional Republicans proved once again that they will stop at nothing to enrich the millionaire, billionaire and corporate donors to whom they are beholden—despite the severe cost that will now be paid by working- and middle-class families.
The true source of America’s greatness is the diversity of our people. Almost 1 in 4 Americans is an immigrant or the child of an immigrant, and with the upcoming vote on the budget, it’s time for Democrats and Republicans alike to finally pass the DREAM Act. As Congress takes up the spending bill, which may be voted on tonight or tomorrow, Demos urges the leadership of both parties to protect young immigrants whose status is on the line by including a clean DREAM Act in the bill—and to reject the bill if a clean DREAM Act is not included.
Insurers justify the use of credit screening for insurance purposes by pointing to internal industry data showing that, on average, people with lower scores are more likely to make an insurance claim. The problem is, they don’t have a convincing explanation for why people with poor credit tend to make more claims.
New York, NY — American families are using credit cards to bridge the gaps created by stagnant wages and higher costs of living and balances have grown dramatically since 1989, according to a new report published today by Demos. Borrowing to Make Ends Meet: the Rapid Growth of Credit Card Debt in America documents the disturbing trends in sky-rocketing credit card debt, and also provides detailed data based on age, race and income demographics.
Dēmos and New Economy Project explore how public banking can expand opportunities for communities of color to build shared generational and community wealth.
In a fair tax system, everyone pays their fair share, no one pays more than they can afford, and the government raises enough money to fund public goods that benefit us all, like education, housing, transportation, and health care. But the current tax code is inequitable.
Washington, DC — Today in the United States, the credit card market is measured on a scale of billions. The amount of debt owed on credit cards in 2005 was $800 billion; $30 billion is how much lenders profit each year. Under the guise of "democratization" the federal government has deregulated the industry over the past 30 years, eliminating caps on interest rates and penalties. Those who can least afford it are paying the price.
Today, congressional Republicans are pushing tax reform proposals that would cost the country over $5 trillion and would likely widen the racial wealth gap and slow economic growth.
Lowering the corporate tax rate will cost the country at least $522 billion over 10 years, money that should be invested in public goods that benefit us all, not further enriching the already wealthy.
Our Taxes Explained series aims to make tax policy clear and accessible. We want people to know what’s at stake and understand how Trump’s tax cuts are designed specifically to benefit the ultra-rich and corporations.
How stark racial disparities have long pervaded our financial services system, fueling and entrenching inequality, and why public banks are a transformative, equitable alternative.
Behind the GOP's populist facade lies a tax plan that would benefit corporations and wealthy households while cutting programs like Medicaid and SNAP. Read more to learn how their tax plan could actually impact working people.
New York, NY — As health care costs continue to rise faster than incomes, families are turning to credit cards to pay for medical care, according to new research by Demos and the Access Project. The public policy groups published the findings today in a report entitled "Borrowing to Stay Healthy: How Credit Card Debt Is Related to Medical Expenses."
New York, NY — Homeowners have been tapping into their home equity to get the cash needed to pay down credit card debt incurred not for luxury expenses, but for basic needs. This strategy leaves them on precarious financial footing after two years of interest rate hikes and the largest drop in home prices in 35 years, according to House of Cards 2006 Update: Still Refinancing The American Dream, a report published today by Demos, a non-partisan public policy organization based in New York.
With 25 million people still unable to find full-time jobs and unemployment insurance close to running out, it's shameful that Republicans in Congress waged ideological warfare over what is typically a pro forma exercise of the Congress.
Washington, DC — American families are turning to credit cards to make ends meet in an increasingly volatile economy, according to The Plastic Safety Net: The Reality Behind Credit Card Debt in America, a new report released today by Demos and Center for Responsible Lending.
