A split senate will vote today on President Bush’s $1.6 trillion tax cut that may gut social programs, offer little or no tax relief for average working women, and provide only the wealthiest taxpayers with significant tax cuts. A few Senate Republicans, and nearly all Senate Democrats will vote against Bush’s proposed plan, making approval of the tax plan impossible. Most Democrats were holding out for a significantly smaller $900 billion tax cut, but did not acquire enough support for the thinned down tax plan the Senate rejected Democrats’ $900 billion plan 61 to 39.
Whether the impending tax cut is $900 billion or $1.6 trillion, deep cuts in the budget will affect needed social programs. Women, who rely more heavily on social programs such as Social Security and Medicare, will bare the burden of these cuts, especially if the projected surpluses for the next ten years do not materialize. While the idea of a tax break is appealing to taxpayers, the majority will see little relief, with one third of the tax cuts going to the wealthiest 1 percent of taxpayers. Bush’s tax plan also provides no relief on the payroll tax. For most Americans and for most American working women, the payroll tax not the income tax is the single largest tax they pay on wages.
Oppose Bush’s Unfair Tax Cut! Write to Senate Democratic Leader Tom Daschle and House Minority Leader Richard Gephardt that they must continue to fight against Bush’s unfair tax cut.
For more information, read Women Can’t Trust Bush’s Tax CutÑIt’s Too Big, Too Risky.