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Sen Dianne Feinstein
@SenFeinstein
, 3 tweets, 1 min read Read on Twitter
In 2017, to help pay for their tax bill, Republicans wiped out or capped many popular deductions for middle-class families. The loss of those deductions is now hurting many Americans filing for the first time under the new system.
Few places are feeling that pain more than California. Due to the cap on state and local taxes, an estimated 134,000 Californian households will have a larger tax bill than the previous year under the president’s plan. Californians shouldn’t be taxed twice on the same income.
Our commonsense legislation would fix that mistake by removing the cap for state and local taxes and restoring the pre-Trump tax rate for the top income bracket. feinstein.senate.gov/public/index.c…
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Sen Dianne Feinstein
@SenFeinstein
I support the suit brought by California and 15 other states against President Trump’s so-called border emergency, which isn’t really an emergency at all. As President Trump said in his Rose Garden speech on Friday, ‘I didn’t need to do this, but I’d rather do it much faster.’
The reason President Trump said he didn’t need to declare an emergency is because there is no emergency. Border crossings are at their lowest levels in years. In 2000, CBP reported more than 1.6 million apprehensions at the border. In 2017, it was just 303,916 apprehensions.
It’s also clear that this is unconstitutional. Congress appropriates funds, not the president. Congress specifically refused to fund the president’s wall at the level he requested & the Constitution does not allow him to overrule Congress when it comes to spending federal dollars
Read 3 tweets
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Sen Dianne Feinstein
@SenFeinstein
BREAKING: the Senate just passed a funding bill to avoid another shutdown. This omnibus bill keeps the entire federal government open and makes key investments in California, including full funding for all of our major mass-transit projects.
The bill also provides funding for proven border security measures without wasting resources on a massive border wall. With long-term funding now in place, we can hopefully begin to restore public confidence that the government will always be open and ready to serve.
While I’m proud of what’s in the omnibus, Congress still has work to finish several items not included in the final bill. Chief among those is disaster funding for California wildfire victims and an extension of the Violence Against Women Act.
Read 3 tweets
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Sen Dianne Feinstein
@SenFeinstein
One common thread that runs through mass shootings in this country is that family & friends are often the first to be aware that perpetrators pose threats to themselves or others. The Parkland shooter had a history of making threatening statements, but police had no power to act.
Families have little recourse if they want to ensure their loved ones don’t get their hands on guns that could be used to kill themselves or others. Our bill would help states establish a court process to allow that to happen.
California, Maryland and Florida have already done so, and the federal government should support other states that want to follow their lead. Read more about our bill: feinstein.senate.gov/public/index.c…
Read 3 tweets

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Paul Krugman
@paulkrugman
I'm working on the Saez-Zucman-Warren tax proposal -- which is, by the way, a real proposal, much more so than the (not at all stupid) suggestion by @AOC of a 70% top rate. It's simultaneously radical and serious, and worth analyzing closely 1/ gabriel-zucman.eu/files/saez-zuc…
It's a really big deal. It would raise around 1% of GDP, entirely from the top 0.1% of wealth owners; meanwhile, the top 0.1% of income earners (not quite the same people, but close) gets around 9% of total income, so this is a double-digit rise in their effective tax rate 2/
Taxing wealth is also a new thing, although middle-class families, whose wealth is largely in their houses, pay a lot of property taxes. And the wealthy, who own a lot of corporate equities, used to pay much higher de facto taxes on those assets via the corporate profits tax 3/
Read 7 tweets
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Malty Meatia
@maltymeatia
Many potential voters are still in agreement that the booming economy will be Trump’s strong hook for the midterms. But what caused it? And can it last? And while we’re wondering this, let’s examine a more immediate question: Should Donald Trump actually be taking credit for it?
There are facts that Trump conveniently leaves out of his claims about how well the economy is doing—namely how well it was doing before he came into office. The articles below tell us that Trump's accomplishments are actually very modest.
snopes.com/fact-check/eve…
"the jobless rate had already been on a steady decline since 2010. Further, unemployment hit a previous 9-year low of 4.6% in Dec. 2016 when Obama was still in office. It climbed back up to 4.8% in Jan., dipped to 4.7% in Feb., and to 4.5% in Mar. 2017."
Read 24 tweets
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Paul Krugman
@paulkrugman
How should journalists report on the Republican tax plan? You might think this was obvious: describe the bill as written. But some are saying that this is unfair, because the middle-class tax increases in the legislation won't really happen 1/
As a reminder, the way the bill works is this: tax increases on middle and lower incomes to pay for corporate tax cuts, but a bunch of temporary measures that offset the middle-class hikes for the first few years, then expire 2/
The expiration dates are there for a reason: to keep the deficit impact of the bill in its first decade down, and make it zero in the second decade to bypass the filibuster. So as written, the long run impact is captured by the 2027 effects 3/
Read 8 tweets
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Ben Wikler
@benwikler
🚨TAX BILL RED ALERT🚨
Republicans think they can rip us off without a fight.
They're wrong.
THREAD: how we'll beat the GOP tax scam—and what YOU can do. RT to fuel the uprising, & follow along...
The House votes 🚨THIS THURSDAY🚨 on the GOP's mega tax giveaway to corporations & the ultrarich. All hands on deck needed NOW.

Thread table o contents:
1. Inside the GOP's hideous tax scam
2. Arc of the fight
3. How to fight back
1. INSIDE THE GOP's HIDEOUS TAX PLAN
36 million. That's the number to remember. 36 million middle class families get slammed with a tax HIKE to give huge corporations a massive giveaway. Again, House vote THIS THURSDAY.
Read 7 tweets
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Senator Bob Casey
@SenBobCasey
Now that we have actual bill text for the GOP tax plan, my staff and I spent the weekend going over all 425 pages. waysandmeans.house.gov/wp-content/upl…
What follows are a few lowlights and where to find the explanation in the Joint Committee on Taxation description: jct.gov/publications.h…
Pg 24 Repeals the $4050 (per family member) personal exemption.
Read 22 tweets
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Rebecca Vallas
@rebeccavallas
House GOP dropped their tax bill today and boy are the media headlines missing the mark. /1
GOP is selling it as a big middle class tax cut – when it’s actually Christmas come early for corporations & the ultra-rich.
/2
The biggest winners are corporations, who’ll see their tax rate drop massively from 35% to 20%. /3
Read 23 tweets

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