Tax Scam Hurts Montana’s Working Families, Adds $1.5 Trillion to Deficit
Helena – Under the new tax law, big corporations will see major profits at the expense of hardworking Montanans, adding $1.5 trillion to the debt and forcing our kids and grandkids to dig us out of this mess.
The law will increase taxes on tens of thousands of working Montanans while handing the top 1% wealthiest Montanans and corporations more tax cuts, all while opening an up to $40 million hole in Montana’s state budget.
In more bad news, the Congressional Budget Office just said the federal government’s cash reserves will run out even faster than previously expected, because of the new tax law.
This tax scam benefits the ultra-rich at the expense of working families. Nationwide, 53% of Americans will see tax increases under the law. It will raise marketplace health care premiums by $2,100 for a typical middle class family, kick 46,000 Montanans off their insurance, and threatens future cuts to Medicare.
That doesn’t seem to be a problem for wealthy real estate developer Matt Rosendale, California Troy Downing, or Russell Fagg, who all will likely benefit from the new tax law while tens of thousands of Montanans will suffer, so it’s no wonder they all full-throatedly support it. They have made clear they will leave Montana working families behind if it means they can line their pockets even more.
More on the Tax Scam:
Great Falls Tribune: Federal tax reform hurts Montana agriculture cooperative
Bozeman Daily Chronicle: Tax bill a bad deal for working Montanans
Wall Street Journal: Private Equity Expected to Benefit From Tax Overhaul
New York Times: Banks Are Big Winners From Tax Cut
International Business Times: Koch Brothers Could Be $1 Billion Richer Each Year From GOP Tax Bill
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