Budget & Appropriations – Historic Tax Law Enacted

The House and Senate passed the Tax Cuts and Jobs Act (TCJA) on December 20, 2017 by votes of 224 to 201 and 51 to 48, respectively. President Trump signed the measure into law two days later. Though the final version of the legislation removed some of the objectionable provisions from prior versions, such as repeal of the medical expense deduction, the work opportunity tax credits, and the disabled access credit, The Arc strongly opposes this legislation. The TCJA repeals the individual mandate to have health insurance, leading to 13 million fewer people with coverage over 10 years, and increases the deficit by nearly $1.5 trillion over a decade, adding pressure to cut Medicaid and other critical programs while providing tax cuts that disproportionately benefit the most affluent and large corporations. See a summary of what is in the law from Politifact.

%d bloggers like this: