Following is a statement from Alan Essig, executive director of the Institute on Taxation and Economic Policy, regarding the House of Representatives’ votes on Tax Cuts 2.0, a package of bills whose hallmark is making permanent the temporary provisions in the unpopular Tax Cuts and Jobs Act.
“Media and public attention this week largely focused on Supreme Court hearings and other events, but the U.S. House remained laser focused on legislation that largely would cut taxes for the rich and add hundreds of billions to the nation’s debt each year.
“While top-heavy tax cuts and their inevitable effect of decimating public investments may seem peripheral to today’s news cycle, they are emblematic of the governing philosophy of those in power today.”
ITEP has a host of resources on so-called Tax Cuts 2.0, including a national and 50-state analysis. https://itep.org/tax-cuts-2-0/