Trump Heads to Missouri Promoting #GOPTaxScam, A ‘Ginormous Revenue Loser’
Today, President Trump is heading to St. Charles, Missouri to cheerlead for a GOP tax scam that will directly hurt the families he will be speaking to. And whatever snake oil he sells, there are some devastating consequences for Missouri you can bet President Trump and Missouri Republicans aren’t going to want to show to the families of the ‘Show Me’ state.
The House GOP tax scam every Missouri Republican voted for would:
- Eliminate the Medical Expense deduction claimed by 165,001 Missouri households with expensive medical care they can’t afford any way else;
- Eliminate the Student Loan Interest deduction claimed by 255,920 Missouri households with student loan debt;
- Eliminate the Educator Expense deduction claimed by 68,100 teachers who buy school supplies for their classrooms;
- Dismantle the State and Local Tax deduction claimed by 727,730 hard-working Missouri households.
In fact, in just the two zip codes of the St. Louis suburb of St. Charles that President Trump is visiting (63301 and 63303), the GOP tax scam would dismantle more than 17,000 families’ state and local tax deduction, currently worth an average of more than $9,000 per each family.
And as local papers have reported, with Missouri tax law tied closely to the federal tax code, top state officials are afraid the federal-deficit exploding GOP tax scam will blow a billion dollar hole in the state budget as well – putting Missouri public safety, schools and hospitals at risk of devastating cuts.
- “It could have a significant impact,” said Rep. Scott Fitzpatrick, R-Shell Knob, who chairs the House Budget Committee. “We cannot have a billion dollar hole blow in the budget. We cannot afford that.”
- “It is obvious that this is a ginormous revenue loser for the state,” said Tom Kruckmeyer, chief economist for the Missouri Budget Project.
Hard-working families in suburbs in every corner of the country will have to bear the cruel burdens of the GOP tax scam, while Republicans hand deficit-exploding giveaways to the wealthiest and corporations shipping jobs overseas.
Democrats will continue to turn up the heat on Republicans for their disastrous tax scam to raise taxes on middle class families. Whether in the House or the Senate, the GOP tax scam is very bad news for middle class America.