National CAPACD Condemns ‘Tax Giveaway’ Bill

Earlier today, Congress voted on a final version of the “Tax Cuts and Jobs Act,” which passed the House of Representatives by a vote of 224 to 201, largely along partisan lines. The National Coalition for Asian Pacific American Community Development (National CAPACD) strongly condemns this “tax giveaway bill,” which will exacerbate already growing income inequality, lining the pocket books of wealthy Americans at the expense of low-income families and working people. Advocates estimate that tax cuts in the bill could increase the federal deficit by nearly $1 trillion over the next decade. An increase in the already growing deficit could lead to cuts to essential services and social safety net programs, such as affordable housing development and preservation, supplemental nutrition assistance programs (SNAP), social security, and Medicaid. Additionally, the tax bill irresponsibly puts millions of Americans at risk of losing healthcare, by repealing the individual mandate from the Affordable Care Act (ACA).

National CAPACD’s Executive Director Seema Agnani said, “We all want neighborhoods and communities that are thriving, with safe and decent housing, well-developed public infrastructure, and access to quality healthcare, education, and jobs. Real tax reform legislation would prioritize the creation of equitable infrastructure and access to opportunities that benefit all Americans. Instead, this ‘tax giveaway’ only benefits the 1%, while leaving the rest of us behind.”

National CAPACD will continue to advocate against any efforts by Congress or this Administration to dismantle access to opportunity for low-income Americans. We remain steadfast in our commitment to fighting for policies that address income inequality, rather than contribute to it.