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Tax Cuts Aim to Help Those Making at least $400,000 Annually, Corporations

Trump Plan Paves the Way for Medicare, Medicaid Cuts

The following statement was issued by Richard Fiesta, Executive Director of the Alliance for Retired Americans, on the so-called tax reform plan outlined by President Trump today.

“Older Americans will not be fooled by this attempt to provide a massive tax cut for large corporations and wealthy individuals on the backs of working Americans and retirees.

“Congress and President Trump showed their hands and their real agenda with their proposed budget and failed attempts to repeal the Affordable Care Act. We already can predict what is coming next. They will seek to pay for tax cuts for the wealthy and corporations that do not need them by reducing funds for Medicare and Medicaid as well as middle class priorities such as education and transportation.

“President Trump’s claims of middle-class tax relief ring hollow. His plan will cut taxes the most for people making more than $400,000 a year and increase tax rates for lower- and middle class working families.

“We will fight back against this and any other plan that will lead to cuts in our earned benefits and weaken Medicare and Medicaid for current and future generations.”

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Contact: David Blank 202-637-5275 or dblank@retiredamericans.org

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Updated: October 3, 2017 — 6:44 am

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