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.
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.
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.
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.
This case study highlights how New Economy Project and the Public Bank NYC coalition are pressing for the creation of a public bank for New York City, as part of a broader vision for economic and racial justice.
"For the sake of millions — people watching their rents go up while their wages don’t, parents who need support in tackling the ever-rising cost of child care, and seniors who regularly must decide whether they can afford their bills or their pills — the Senate must pass this legislation.”
Tomorrow the United States Supreme Court hears oral arguments in a case that has great relevance for our efforts to build an inclusive, multiracial democracy.
The Build Back Better Act would dramatically help working people and families. Now, the passage of this once-in-a-lifetime framework is in the hands of a few legislators who are beholden to corporations and the ultrarich.
Corporate and far-right special interests incite deficit fears by manufacturing an artificial crisis around debt. This has consolidated wealth and power in predominantly white corporate hands—and at the expense of Black and brown communities—for decades.
The American Rescue Act will provide economic relief and investments in Black and Brown communities. Yet, for all its strengths, there are still significant limitations.
The Postal Service faces a $13 billion revenue loss this fiscal year alone; If the Postal Service is allowed to fail, it will be a tremendous blow to all Americans.
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.
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.
