Tax reform cannot mean tax breaks for the wealthy. And any plan that balloons the federal deficit is unacceptable to me.
The Republican tax “reform” bill gives huge tax breaks to corporations and wealthy individuals. To make up for that lost revenue, the plan calls for eliminating the deductions we can claim for our property taxes, as well as state and local taxes. Rep. Denham voted “Yes” on this plan that will raise our tax bills by thousands each year and balloon the deficit. While Republicans in other states hard hit by this tax plan stood up and said “No,” Mr. Denham was, as always, silent. We need a representative in Congress who will stand up for us – not just for big corporations.
I favor a plan that encourages economic growth, but not at the expense of middle class families and homeowners. I oppose the elimination of the home mortgage deduction, limits on 401-K contributions, and elimination of the deduction for state and local income and property taxes. Our community is still struggling to recover from the housing recession of 10 years ago, and these measures would be a deal-breaker for me.