CHICAGO — House minority leader Nancy Pelosi is in Chicago Friday for a town hall meeting on the impact of President Trump’s tax cut plan on working families in Illinois.
The tax cut has already led to slightly higher take home pay for many workers. There have also been several well-publicized bonus programs announced by companies like WalMart and Home Depot. Republicans say that shows the cuts are providing economi stimulus and opportunities.
But Pelosi points out that 83 percent of the tax cuts will go to the top one percent of American households and corporations. And in future years, middle class families will actually see tax increases.
Pelosi was in Boston Thursday, kicking off a nationwide series of appearances to criticize the tax plan. She was joined at the Chicago Cultural Center by Congresswoman Jan Schakowski (D-Chicago) and Congressman Danny Davis (D-Chicago) as well as the Rev. Jesse Jackson and tax policy experts.
They pointed to figures from the non-partisan Congressional Budget Office projecting a $136 billion dollar decrease in government revenues in 2018 alone.
Another hot topic here in Chicago, the limits on property tax and mortgage deductions, which will have a big impact on taxpayers with expensive properties.