Appraising Tom Campbell
 
WHO BENEFITS FROM THE REPUBLICAN TAX CUT?

The tax plan agreed to by the GOP House-Senate tax conferees would give more than two-thirds of its tax cuts to the best-off tenth of all taxpayers, according to a preliminary analysis of the agreement released by Citizens for Tax Justice.  
 
Tom Campbell voted with the Republicans on August 5th, when it came to the House floor as a conference report on  h.r. 2488.  The bill passed with nearly all Republicans voting for it, and nearly all Democrats voting against it.  The vote was close:  221-206.
 
The CTJ analysis, which includes all the major elements of the agreement, found that under the House-Senate tax plan:
 

The 60 percent of taxpayers in the middle income quintile and below would receive less than 8 percent of the total tax cuts. Their average tax reduction would be only $138 a year.  The best-off tenth of all taxpayers would receive 69 percent of the tax reductions, and get an average annual tax cut of $7,600. 

The best-off one percent of taxpayers--those making more than $301,000-- would get an average tax reduction of more than $46,000 a year. 

 
"The conferees have taken two terrible tax bills and produced one equally terrible,"  said Citizens for Tax Justice director Robert S. McIntyre. "These bills spend so-called 'surplus' money that is unlikely to ever materialize primarily to benefit the nation's wealthiest people. The rest of us who will eventually have to pay for this irresponsible behavior should be outraged."
 
Details coming in the next edition of the "Dump Campbell" newsletter.  Email for your copy.
 

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