It’s shameful and shameless.
Today, the House is expected to vote on a disastrous budget that would cut $5.5 trillion from the federal budget over 10 years, targeting programs that help millions of women put food on the table, afford child care and higher education, and access health care for themselves and their families. More than two-thirds of the cuts in the House budget are to programs for low- and moderate-income people, according to the Center on Budget and Policy Priorities.
Also today, the House Ways and Means Committee is expected to vote on a bill to repeal the estate tax, H.R. 1105, which would add nearly $250 billion to the deficit to give new tax breaks to the heirs of multimillionaires. Only the richest 0.2 percent of estates would benefit from repeal of the estate tax, because the estate tax already exempts estates of less than $11.86 million per couple. The estimated 5,400 estates nationwide that would be subject to the tax in 2015 would get an average windfall of $2.5 million each from repeal.
Sorry to say, a majority of the Ways and Means Committee is expected to vote to repeal the estate tax. We’ll keep you posted about when it will go to the floor so you can let your Representative know what you think about these priorities.