Tax sham rewards the rich

The wealthy and powerful corporations are the big winners by far in House Republicans’ tax plan. Millions of hard-working families would get next to nothing under this plan, and in some cases, will pay more. Deficits, such a focus of Republicans until now, will skyrocket, which will weaken our economy and ultimately slow job growth. This will inevitably be followed by demands by Republicans to cut Medicare, Social Security and other important investments in our country's future. The so-called Tax Cuts and Jobs Act is not tax reform; it's a huge gift to the wealthy and well-connected, paid for by the working and middle classes of our country.

It is estimated that at least 7 percent of taxpayers will pay higher taxes in 2018, and at least 25 percent of taxpayers would pay more in 2027.

The plan abandons families facing a natural disaster or costly medical bills by repealing deductions for casualty losses and medical expenses.

It eliminates the deduction for student loan interest, impacting 12 million borrowers, including two of my children.

This plan is a sham to give to the rich and make working-class American families pay for it.

This story was originally published November 29, 2017 at 5:02 PM with the headline "Tax sham rewards the rich."