HARRISBURG – On Thursday Gov. Tom Wolf wrote Pennsylvania’s U.S. Senators to warn that the $1.5 trillion deficit created by the Senate Republican’s tax bill will open the door to cuts to programs like Medicaid, Medicare and Social Security.
Further, Wolf, a former chief executive officer, told the Senators that large corporations and the wealthy win under the plan, while many middle class Pennsylvanians will have their taxes increase.
“This bill is not a bill that will help hard-working middle-class Pennsylvania families. Large corporations and the wealthy are the clear winners under this plan,” Wolf wrote.
“It isn’t just higher taxes that will hurt the middle class. Because this bill irresponsibly increases the deficit by $1.5 trillion, I fear that some in Congress will use this as an excuse to try to make devastating cuts to Social Security, Medicare, Medicaid and other programs that are vital to Pennsylvanians.
“Slashing these critical programs so that the top one percent become wealthier and corporations increase their profits is unacceptable.”
Read full text of the letter below. You can also view the letter on Scribd and as a PDF.
Gov. Wolf’s Letter
I write today regarding the tax bill that the Senate will vote on in the coming days.
I have serious concerns over the priorities of this bill. This bill is not a bill that will help hard-working middle-class Pennsylvania families. Large corporations and the wealthy are the clear winners under this plan.
Over 60 percent of the tax cuts in this bill will go to the wealthiest one percent of taxpayers. Large corporations will see a 15-point reduction in their tax rate. By 2025, individuals making under $30,000 will see a tax increase. By 2027, individuals under $75,000 will see a tax increase.
By eliminating the state and local tax deduction, nearly 1.8 million Pennsylvanians, half of whom are making under $100,000, will no longer be able to deduct their state and local property taxes. The bottom line is that millions of Pennsylvanians will credibly have their taxes increase under this bill.
It isn’t just higher taxes that will hurt the middle class. Because this bill irresponsibly increases the deficit by $1.5 trillion, I fear that some in Congress will use this as an excuse to try to make devastating cuts to Social Security, Medicare, Medicaid, and other programs that are vital to Pennsylvanians. Slashing these critical programs so that the top one percent become wealthier and corporations increase their profits is unacceptable.
Do not put billionaires and millionaires ahead of your hard-working constituents. I urge you to vote no on this bill and work on real, meaningful tax reform that will benefit the families in Pennsylvania that need it the most. Thank you for your consideration.
Wolf’s Letter to Senator Toomey on Senate Republican’s Tax Bill by Gov. Tom Wolf on Scribd
