12.1 million new jobs over 61 straight months of job growth: The clearest reflection that the economy works best when it’s working for everyone, not just the wealthy few.
That’s what middle-class economics is all about. And it is the backbone of the President’s budget – the clearest reflection of his priorities. The Congressional Republican budget is also the clearest reflection of their priorities, and the difference in visions could not be more stark.
Take a look at what each budget has planned for your taxes. The President’s budget provides significant benefits for a wide range of middle class and working families, from a boost for low-wage workers from expanding the Earned Income Tax Credit (EITC) to substantial tax cuts for middle-income parents with children in daycare or in college.
Republicans in Congress have taken a very different approach, giving huge tax giveaways — including eliminating the estate tax — to the wealthy and well-connected at the expense of the middle class and those struggling to get into the middle class.
What’s would eliminating the estate tax mean? It’d mean getting rid of all income and estate taxes on the wealthiest estates in America – valued at over $5.5 million in 2016. That would cost the American taxpayer $270 billion over the next ten years.
See how these two different tax plans would impact people in your state:
View state-by-state fact sheets detailing how the President’s tax policies support middle-class economics, while the Republicans’ proposals slash taxes for the wealthiest at the expense of middle-class and working families:
|District of Columbia||Florida||Georgia||Hawaii|
|Nevada||New Hampshire||New Jersey||New Mexico|
|New York||North Carolina||North Dakota||Ohio|
|South Carolina||South Dakota||Tennessee||Texas|