MBPC Statement in Response to the US House Tax Bill

Nov 03, 2017

Below is a statement by the Montana Budget and Policy Center in response to the United States House release of the Tax Cuts and Jobs Act:
“The House GOP’s tax plan would enact large tax cuts that are heavily skewed toward wealthy households and profitable corporations, while increasing the federal deficit over time,” said Heather O’Loughlin, co-director of the Montana Budget and Policy Center. “These tax cuts will result in even greater pressure on Congress to make cuts to programs that serve Montana seniors, people with disabilities, children, and working Montana families, all the while putting millions of federal dollars that are injected into Montana’s local economies at risk.” 
The House Republican tax plan released today is more of the same. Just like earlier proposals from the Administration and congressional Republicans, it would increase federal deficits, provide enormous tax cuts to high-income households and corporations, and hurt working and middle-income families. The House tax plan would increase federal deficits by at least $1.5 trillion over the coming decade. Tax cuts under the House plan would go overwhelmingly to high-income households. Business tax changes in the plan would benefit high-income households and large multinational corporations, not small businesses or the middle class. The plan offers no benefits to most low-income working families: instead, it hurts many.
Montana Budget & Policy Center

Shaping policy for a stronger Montana.

MBPC is a nonprofit organization focused on providing credible and timely research and analysis on budget, tax, and economic issues that impact low- and moderate-income Montana families.