Senate Democrats’ new plan to fight President Trump is an insult to the working class
Sen. Bernie Sanders (I-VT) is introducing a bill that would require every American to take a tax credit if they buy goods made by a family of four or more, and it’s already generating a great deal of outrage.
Democrats on the Senate Finance Committee announced the proposal Monday.
The tax credit is called the Working Family Credit, and the goal is to help families pay the cost of childcare, child care, and other expenses that may be beyond the reach of middle class families.
The Working Family Tax Credit is a tax break that can be used to help people afford childcare, daycare, and to help parents make ends meet when their children are in school.
This is a great opportunity to get at the root of this very serious problem.
It is a huge incentive for families to put aside money to send their children to college, and a big subsidy for those who don’t have enough money to support their families.
But it’s also a huge subsidy for billionaires and corporations that will disproportionately benefit the wealthy.
The Congressional Budget Office found that the WFTC would raise taxes for working families by $6,846 on average over the next decade, and $8,818 for couples making more than $200,000.
The WFTL would raise more than that by nearly $10,000 for couples with children, and about $1,200 for single parents.
That means that, by the end of the decade, it would cost families $2,000 more to pay for childcare than it would have if the WBT was not in place.
It is unconscionable that the Congressional Budget Bureau found that if the President and congressional Republicans enacted this tax credit as written, the Working Families Tax Credit would raise by $1.7 trillion over the course of a decade, according to estimates from the nonpartisan Tax Policy Center.
The Senate Finance committee is also taking aim at the President’s signature healthcare reform law.
Republicans have argued that this law, which requires Americans to purchase insurance from the state, will cost millions of Americans their jobs, threaten the economy, and put the nation on a path to bankruptcy.
Sen. Bernie Clinton (D-NY) has said that repealing the WFC is not going to increase the federal deficit, but rather it is a waste of time.
The administration has said it will not take any additional action to extend the WFTC.