Oppose Tax Cuts for the Wealthy

I am writing to express my strong opposition to any proposal to extend the 2017 Tax Cuts and Jobs Act (TCJA), particularly in light of its long-term impact on the federal deficit and the findings of the July 2024 Urban-Brookings Tax Policy Center report. As you are aware, the TCJA enacted sweeping tax reductions, the majority of which have disproportionately benefited the wealthiest Americans and large corporations, while failing to deliver the promised economic growth for middle- and low-income households. The Congressional Budget Office has already warned that these tax cuts are a major driver of our nation’s growing budget deficits, contributing significantly to an unsustainable increase in national debt. The nonpartisan CBO has projected that without policy changes, the federal deficit will continue to rise, leaving future generations with the burden of debt repayment. Furthermore, the July 2024 report from the Urban-Brookings Tax Policy Center underscores the inadequacies of the TCJA. The report found that the benefits of the tax cuts have been heavily concentrated among the top 1% of earners, while the vast majority of Americans have seen little to no benefit. Stop the steal, indeed. In addition, the extension of these tax cuts would divert valuable resources away from crucial investments in education, healthcare, infrastructure, and other areas that are vital to the well-being and future of our citizens. We cannot afford to continue policies that disproportionately favor the wealthy at the expense of necessary public services. We need to shift toward policies that promote fairness, long-term economic stability, and meaningful investment in the American people. I urge you to stand against any extension of the 2017 tax cuts that so disproportionately favors the wealthy, and to instead focus on creating a tax policy that is equitable, fiscally responsible, and sustainable for future generations. In other words, tax the corporations, not the people. Thank you for your time and attention to this critical matter. I hope that you will consider the long-term impact of these decisions and prioritize the well-being of all Americans over short-term political gain.