It’s time to move on taxes
This week, the U.S. Senate is expected to vote on whether to allow the Bush-era tax cuts on income over $250,000 to expire. This means every household would continue to get tax breaks on the first $250,000 of income; only every dollar about that level would be taxed at the higher rate. Letting the temporary tax holiday expire would impact less than 5 percent of American taxpayers. Allowing tax cuts for the top 2 or 3 percent to expire would generate $965 billion in revenue over the next ten years according to estimates — revenue that can be used to pay down the deficit and build a stronger future for America (by investing in education, infrastructure, research, clean energy, health care, and more).
The U.S. House of Representatives will vote on whether or not to extend all the Bush-era tax cuts by the end of July. Extending all the Bush-era tax cuts would increase the deficit by $2.8 trillion over the next ten years.Â
Please participate in “National Call Congress Week,” organized by Americans for Tax Fairness, a new coalition in which the National Gay and Lesbian Task Force participates. We know that LGBT people and families have more economic insecurity and can ill afford to see their taxes increase while others benefit from tax cuts they don’t need. Please tell your representatives and senators that you want them to end the Bush tax cuts for the richest 2 percent. Call Congress at 1.888.744.9958, or click here to send an e-mail.
Today, the wealthy and big corporations use their lobbyists to rig the tax system and their accountants to exploit every loophole. We need to clean this up. We can’t afford to keep giving tax cuts to the wealthiest Americans and big corporations who need them least and not extending the Bush-era tax cuts for income over $250,000 is a first step.
They need to pay their fair share and start living by the same set of rules as the rest of us.
