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Another Way the GOP Favors the Wealthy Over Everyone Else
While much of the discussion around the fiscal showdown has rightly focused on the top tax rates for the wealthiest Americans, there are a lot of other very important tax issues to sort. Notably, many expanded tax credits for low-wage workers and other important tax credits, such as the American Opportunity tax credit, will disappear at the end of the year if they are not extended.
The Senate has already passed a bill extending these important tax credits as well as the current tax rates for 98 percent of Americans and 97 percent of small businesses, but Republicans are holding those tax cuts hostage in order to get more tax breaks for the wealthy.
Our colleagues put together a handy infographic showing how Republican plans would impact different families.
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