Today, Food Policy Action (FPA) released the following statement from Executive Director, Monica Mills, on the U.S. House of Representatives’ passage of the tax “reform” conference report accompanying H.R. 1. This massive legislation largely reduces taxes for the wealthiest households and corporations, while raising taxes on millions of low- and moderate-income American families and food producers.
Today, Food Policy Action (FPA) released the following statement from Executive Director, Monica Mills, on the U.S. House of Representatives’ passage of the tax “reform” conference report accompanying H.R. 1. This massive legislation largely reduces taxes for the wealthiest households and corporations, while raising taxes on millions of low- and moderate-income American families and food producers.
According to estimates by the Joint Committee on Taxation, the revenue generated by economic growth as a result of this bill would fall far short of offsetting its price tag. The resulting decrease in federal revenues will increase pressure for further cuts to discretionary, non-defense programs, such as food and agriculture programs for the most vulnerable.
“The House of Representatives has forced through a tax plan that is just plain wrong,” said Food Policy Action Executive Director, Monica Mills. “This bill is an assault on working families and on America’s budget that will reduce taxes for wealthy households and corporations. This ‘reform’ package will hurt our farm and food system – especially the most vulnerable – and will make it even harder for working families to afford healthy food. Congress should be working to ease the burden of struggling families, not working to make the rich even richer. This is shameful. We call on the Senate to do the right thing and stop this dangerous proposal in its tracks.”
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