Press Release – As a nonprofit umbrella of nearly 170 human services providers in New York City, we are deeply concerned about the disproportionate and adverse impact the tax legislation passed by Congress today will have on the New York City and State budgets, as well as charitable donations, upon which our members and the communities they serve rely on for critical programs and services.
The legislation is a broken promises bill that puts corporate shareholders over working families. It provides enormous and permanent tax cuts for profitable corporations and is riddled with additional loopholes for the President himself, authors of the tax bill, and Wall Street’s wealthiest, all of which are paid for by raising taxes on many low- and middle-income families and taking health coverage away from 450,000 New York City residents.
Unfortunately, this is only step one of a two-step attack: the plan will increase national deficits by at least $1.5 trillion, which, following the New Year, will be used to justify deep budget cuts to health care, housing, and critical supports for low- and middle-income families already struggling to afford their basic needs.
We at FPWA applaud the New York Congressional delegation’s largely bipartisan rejection of the plan, and we now call on those same representatives to reject proposals to pay for these tax cuts that will further hurt everyday Americans.
