Helena – On the deadline for the first tax filing season after Sen. Steve Daines and Rep. Greg Gianforte voted for the GOP tax law that handed hundreds of billions of dollars in tax breaks to corporations and the wealthiest Americans, Montanans are noticing smaller tax refunds — or even owe money to the Internal Revenue Service. And Montanans are not alone.
From the Washington Post: “Millions of Americans filling out their 2018 taxes will probably be surprised to learn that their refunds will be less than expected or that they owe money to the Internal Revenue Service after years of receiving refunds.”
The benefits from the GOP tax law are not going into middle-class families’ tax refunds or paychecks, as promised. Instead, they’re largely going to the wealthiest Americans, big banks, multinational pharmaceutical companies and wealthy shareholders.
From CBS News: “[…] middle-class families on average are receiving modest cuts of as little as 1 percent and many ordinary taxpayers have seen their tax refunds shrink or even disappear this filing season.”
“The reality is, Steve Daines and Greg Gianforte voted for a massive government hand-out to billionaires and giant corporations, while here at home, Montana families are paying for the fallout from the GOP tax scam,”said Montana Democratic Party Executive Director Monica Lindeen. “It couldn’t be more clear that the biggest winners from the GOP tax law are rich people who are getting richer at the expense of middle-class families who are working harder than ever to make ends meet.”
In addition to smaller tax refunds, the GOP tax law is contributing to rising health care costs for middle-class families. According to a report from the nonpartisan Tax Policy Center, the Republican tax law “will raise health care premiums and reduce health insurance coverage.”
In fact, the Tax Policy Center noted that the GOP tax law in general “will, under the most plausible scenarios, end up making most households worse off than if [it] had not been enacted.”
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