{"id":61931,"date":"2025-02-01T10:05:04","date_gmt":"2025-02-01T10:05:04","guid":{"rendered":"https:\/\/peraltafinancing.com\/alabama\/56-alabama-groups-urge-congress-to-reject-tax-cuts-for-the-wealthy\/"},"modified":"2025-02-01T10:05:04","modified_gmt":"2025-02-01T10:05:04","slug":"56-alabama-groups-urge-congress-to-reject-tax-cuts-for-the-wealthy","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=61931","title":{"rendered":"56 Alabama groups urge Congress to reject tax cuts for the wealthy"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p>Congress should oppose efforts to increase tax breaks for wealthy Americans and highly profitable corporations this year, 56 organizations across Alabama wrote in a letter sent to Alabama\u2019s congressional delegation Wednesday. Lawmakers instead should seek to boost tax credits that expand opportunities for working people and families, the letter said.<\/p>\n<p>\u201cWe urge you and all members of the Alabama delegation to reject renewed or expanded tax cuts for the wealthiest people in our society,\u201d the groups wrote. \u201cAnd we urge you instead to provide meaningful tax reductions for ordinary families in Alabama and nationwide through an expanded Child Tax Credit and expanded Earned Income Tax Credit.\u201d<\/p>\n<p>Alabama Arise is among 56 organizations that signed the letter to the state\u2019s two U.S. senators and seven U.S. representatives.<\/p>\n<p><a href=\"https:\/\/www.alarise.org\/resources\/alabama-arise-55-partner-groups-urge-congress-to-oppose-more-tax-cuts-for-wealthy-households\/\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.alarise.org\/resources\/alabama-arise-55-partner-groups-urge-congress-to-oppose-more-tax-cuts-for-wealthy-households\/&amp;source=gmail&amp;ust=1738389188175000&amp;usg=AOvVaw2NvpvODxM9ck5XKkKaCJtZ\">You can read the full letter here<\/a>.<\/p>\n<h3><b>\u2018An opportunity to address long-standing inequities with our tax code\u2019<\/b><\/h3>\n<p>The Tax Cuts and Jobs Act (TCJA), enacted in 2017, increased federal deficits by nearly $2 trillion while lavishing tax cuts on the country\u2019s wealthiest households. The law failed to live up to proponents\u2019 claims that it would pay for itself or fuel wage increases for most workers, the organizations\u2019 letter said.<\/p>\n<p>Many TCJA provisions are set to expire this year, including numerous tax breaks that disproportionately benefit wealthy people. These include higher estate tax exemptions and a cut to the top marginal income tax rate. Other provisions are permanent and not up for renewal, including a 40 percent reduction of the corporate income tax rate. This tax break overwhelmingly benefits large, highly profitable corporations.<\/p>\n<p>Proposals to renew and expand these tax breaks would be similarly skewed in favor of the wealthiest Americans. The White House\u2019s proposed tax plan would lead on average to \u201ca tax cut for the richest 5 percent of Americans and a tax increase for the other 95 percent of Americans,\u201d according to the Institute on Taxation and Economic Policy (ITEP), a nonprofit tax policy research organization in Washington, D.C.<\/p>\n<div class=\"code-block code-block-6\" style=\"margin: 8px auto; text-align: center; display: block; clear: both;\">\n<div class=\"zox-post-ad-wrap\"><span class=\"zox-ad-label\">Advertisement. Scroll to continue reading.<\/span><\/div>\n<\/div>\n<p>Lawmakers will have an opportunity during this year\u2019s federal tax and budget debates to choose a better, more inclusive path, the Alabama organizations wrote.<\/p>\n<p>\u201cThe expiration of these provisions [is] an opportunity to address long-standing inequities with our tax code and to raise more revenue to meet our country\u2019s current obligations and address critical unmet needs,\u201d the groups wrote.<\/p>\n<h3><b>Child Tax Credit, EITC improvements would reduce poverty, expand opportunity<\/b><\/h3>\n<p>A key TCJA provision that helped working families is also set to expire: an increase of the maximum Child Tax Credit (CTC) from $1,000 per child to the present $2,000 per child. Boosting the CTC is a proven way to ease suffering and expand economic opportunity, as 2021\u2019s temporary CTC increase showed.<\/p>\n<p>Congress in 2021 expanded the CTC for one year under the American Rescue Plan Act. The expansion increased the maximum credit for children under age 6 to $3,600, and for all other children to $3,000. It made the full CTC available to children living in families with low or no earnings. And it extended the credit to 17-year-olds, who previously were ineligible.<\/p>\n<p>The benefits were swift and powerful, Census data showed. CTC payments helped families cover rising costs for necessities like food, utilities, rent and diapers. Overall, the policy kept more than 5 million Americans above the poverty line. It also contributed to a major nationwide reduction in the child poverty rate in 2021, with the Supplemental Poverty Measure for children falling from nearly 10 percent to about 5 percent.<\/p>\n<p>Temporary improvements to the Earned Income Tax Credit (EITC) in 2021 also eased hardship for people across Alabama. More than 280,000 Alabamians with low incomes benefited from the one-year EITC expansion. Nearly three in four had incomes below $20,400, according to ITEP estimates.<\/p>\n<p>\u201cNo matter what you look like or where you\u2019re from, we all believe in caring for our families and community,\u201d the organizations wrote to Alabama\u2019s congressional delegation. \u201cAmericans want you to meet the moment and put the future and well-being of all of us ahead of tax cuts for the wealthy and well-connected.\u201d<\/p>\n<div class=\"code-block code-block-6\" style=\"margin: 8px auto; text-align: center; display: block; clear: both;\">\n<div class=\"zox-post-ad-wrap\"><span class=\"zox-ad-label\">Advertisement. Scroll to continue reading.<\/span><\/div>\n<\/div>\n<p><!-- CONTENT END 1 -->\n\t\t\t<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>Congress should oppose efforts to increase tax breaks for wealthy Americans and highly profitable corporations this year, 56 organizations across Alabama wrote in a letter sent to Alabama\u2019s congressional delegation Wednesday. Lawmakers instead should seek to boost tax credits that expand opportunities for working people and families, the letter said. \u201cWe urge you and all [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":61933,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11763],"tags":[12750,34158,15255,11339,3724,34160,7356,34159,16615,27977],"dealstore":[],"offerexpiration":[],"class_list":["post-61931","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-alabama","tag-alabama","tag-alabama-arise","tag-congress","tag-cuts","tag-groups","tag-reject","tag-tax","tag-tax-cuts-and-jobs-act","tag-urge","tag-wealthy"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>56 Alabama groups urge Congress to reject tax cuts for the wealthy - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=61931\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"56 Alabama groups urge Congress to reject tax cuts for the wealthy - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"Congress should oppose efforts to increase tax breaks for wealthy Americans and highly profitable corporations this year, 56 organizations across Alabama wrote in a letter sent to Alabama\u2019s congressional delegation Wednesday. Lawmakers instead should seek to boost tax credits that expand opportunities for working people and families, the letter said. \u201cWe urge you and all [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fivemor.com\/?p=61931\" \/>\n<meta property=\"og:site_name\" content=\"Som2ny Network\" \/>\n<meta property=\"article:published_time\" content=\"2025-02-01T10:05:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/fivemor.com\/wp-content\/uploads\/2025\/02\/AdobeStock_470335315-scaled-e1738330207592.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1438\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/fivemor.com\/?p=61931#article\",\"isPartOf\":{\"@id\":\"https:\/\/fivemor.com\/?p=61931\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\/\/fivemor.com\/#\/schema\/person\/b85e3c3dc0e1daea076524dc8810c371\"},\"headline\":\"56 Alabama groups urge Congress to reject tax cuts for the wealthy\",\"datePublished\":\"2025-02-01T10:05:04+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/fivemor.com\/?p=61931\"},\"wordCount\":688,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/fivemor.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/fivemor.com\/?p=61931#primaryimage\"},\"thumbnailUrl\":\"https:\/\/fivemor.com\/wp-content\/uploads\/2025\/02\/AdobeStock_470335315-scaled-e1738330207592.jpeg\",\"keywords\":[\"Alabama\",\"Alabama Arise\",\"Congress\",\"Cuts\",\"Groups\",\"reject\",\"tax\",\"Tax Cuts and Jobs Act\",\"urge\",\"Wealthy\"],\"articleSection\":[\"Alabama\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/fivemor.com\/?p=61931#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fivemor.com\/?p=61931\",\"url\":\"https:\/\/fivemor.com\/?p=61931\",\"name\":\"56 Alabama groups urge Congress to reject tax cuts for the wealthy - 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