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Seth Hanlon @SethHanlon
, 9 tweets, 4 min read Read on Twitter
WOW. We knew the Senate Republican tax bill was bad but these graphs from the Institute for Taxation and Economic Policy (@iteptweets) are still shocking.

The bill RAISES taxes on low- and middle-income households while cutting them on high-income households.

1/
The top 1% gets a tax cut of $9,000 in 2027. At the same time that the poorest income groups get a tax hike of about $200. 2/
You won't believe this but it's true. The Senate GOP bill gives a bigger tax cut to FOREIGN INVESTORS than any group of U.S. taxpayers. In fact, the bottom 60% is basically paying for the tax cut for foreign investors.

America First? Country first? Make America Great Again?

3/
In fact, under the Senate GOP bill, the tax cut for foreign investors is almost three times as big as the net benefits for all American households, rich and poor. Just amazing. Really hard to get your head around. But it's true.

4/
The reason that foreign investors are the biggest winners is that they own about 1/3 of the shares of U.S. corporations.

Corporations are getting a huge tax cut, paid for by tax *increases* on Americans, and by fewer Americans w/health insurance.

taxpolicycenter.org/taxvox/foreign…

5/
Taxpayers in 19 states will be paying higher taxes on net in 2027 than if Republicans did nothing.

Translation: Marco Rubio would be voting for a bill that raises taxes on Floridians on net by $1 billion.

Collins would be voting for a $90M net tax hike on Mainers. And so on.
Here, you can see how people fare in your state. (ITEP is the only organization that does this kind of state-by-state analysis.)

itep.org/senatetaxplan/…

7/
And think about this. The ITEP figures assume that US workers get roughly a quarter of the benefit of corporate tax cuts, which is the same convention that Congress's Joint Tax Committee uses. The direct impacts are even more extreme. 8/
The only good news: WE CAN STOP THIS BILL. But we need to act NOW. It could become law RIGHT AFTER THANKSGIVING!

Here's a resource for contacting the 9 GOP senators that we see as pivotal.
trumptaxtoolkit.org

If yours is not on this list call 202-224-3121. PLEASE SHARE. 9/9
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