The House tax reform bill is filled with awful things that will negatively impact the poor and middle class. The Senate bill is only marginally better. Both are focused on taking money from the least among us to give to millionaires and billionaires who did not earn it and don’t need it.
One of the provisions in the House bill would tax pension investments. Applying the Unrelated Business Income Tax of 39 percent to state and local pension investments would completely devastate these funds and destroy the pension plan’s ability to continue making enough money to pay pensions. This will affect every public pension plan in the United States — including first responders and teachers.
I worked for Washington and paid into the pension plan, as well as Social Security, for 30 years. The Republicans’ plan to steal my money to pay off their billionaire donors is deplorable.
This Republican tax “reform” is bad for every hard-working American and only good for the millionaires who stash their cash in the Caymans. Call or write your elected officials and tell them to reject this bill.