The elimination of the ability to deduct losses from wildfires and earthquakes was not the only way the Republican tax bill would harm Californians. Unlike 39 other states who receive more from the federal government than they pay in taxes, California only "receives $0.99 in federal expenditures per dollar of taxes paid". The bill passed by the House would make this worse by eliminating the "deductions for state and local income taxes". It would also cap property-tax deductions at $10,000 a year and cut the mortgage-interest deduction cap in half. While these provisions were enough to convince three California Republicans to vote against the bill, Knight still voted "yes."
The bill passed by the Republicans has enough toxic provisions to ensure that Californians are not the only ones who would be negatively affected. It has been estimated "that half the benefits of the bill go to the top 1 percent by 2027" while "many of the people facing tax hikes are solidly middle class ($40,000 to $75,000) or else in the "upper upper" middle class ($200,000 to $400,000)". Middle-income Americans will lose the ability to deduct student-loan interest while graduate students would face a new taxation if they receive a tuition waiver. In a move that will greatly affect the elderly, medical expenses can no longer be deducted under the bill passed by the GOP. Employees would be taxed if their employers provided them with education assistance or reimbursed them for dependent-care expenses. Were these the "special-interest loopholes" that Knight was referring to in his statement announcing that he had voted for this measure?
"The House Republican tax writers' plan is estimated to add $1.49 trillion to the deficit over a decade." On his campaign page, Knight declares that "the unsustainable debt currently being passed on to our children is morally wrong and is a blatant act of generational theft." Putting corporate tax cuts above the children of his district, Knight voted to approve the GOP tax plan. Is there a question as to whom he is actually representing?
The Rye fire burns in Steve Knight's congressional district.
(Image by YouTube, Channel: Tactical 416) Permission Details DMCA
Carl Petersen is a parent and special education advocate, elected member of the Northridge East Neighborhood Council and was a Green Party candidate in LAUSD's District 2 School Board race. During the campaign, he was endorsed by Network for Public Education (NPE) Action and Dr. Diane Ravitch called him a "strong supporter of public schools." His past blogs can be found at www.ChangeTheLAUSD.com.
(Article changed on December 9, 2017 at 18:38)