This month, taxpayers receiving their paychecks are seeing changes in their take-home pay. Some will see more, some less since the tax plan passed last year delivers income tax cuts depending on individual taxpayer circumstances.
The benefits from the new tax law will accrue primarily to the wealthiest taxpayers and profitable corporations. In total, the tax plan passed last year reduces revenue by nearly $525 million over the next two years. The foregone investments for our communities that will result from these tax cuts will impact us all.
Consider what could have been done to improve the classroom experience of our students in K-12 public schools if policymakers hadn’t chosen to cut taxes for the wealthy and profitable corporations. These dollars could have been used to provide a package of investments in public education such as:
- Keeping 1 in 5 teacher assistant jobs in FY15
- Doubling current funding for textbooks in FY15 Read More