RENEWING THE TRUMP TAX CUTS BENEFITS THE RICH &

RENEWING THE TRUMP TAX CUTS BENEFITS THE RICH & THREATENS SOCIAL SECURITY, MEDICARE, MEDICAID & MORE Key parts of the 2017 Trump-GOP tax law, including individual income and estate-tax cuts, will expire at the end of 2025, but House Republicans want to permanently renew them. [...] ● The top 0.1%, who all have incomes over $4.5 million, would get an average tax cut of $175,000 in the first year (2026) if the Trump tax cuts are renewed (see chart), according to the Tax Policy Center. [...] ● Renewing the Trump tax cuts would add $3 trillion to federal deficits over 10 years while mostly benefiting the rich, according to the Tax Policy Center. [...] ● Republicans are already threatening deep cuts to these critical services—citing the need to reduce federal deficits—so it’s outrageous that they would propose to increase deficits with more tax cuts for the wealthy by renewing the Trump tax cuts. [...] ● Imposing a 15% minimum tax on offshore corporate profits and closing other offshore loopholes to stop the outsourcing of jobs and the shifting of profits to tax havens ($500 billion).