John,
As Republicans prepare to vote on a budget that cuts trillions of dollars from critical services to pay for a renewal of their $4.5 trillion tax scam, they have their sights set on massive cuts to education and raising costs for people seeking an education.
The House budget proposal calls for $330 billion in cuts to the federal education budget, and it’s expected that more than $127 billion of that could come from an overhaul of the student-loan repayment plan. Such a cut would drive up student loan payments by as much as $200 per month per borrower.[1]
That means that your student loans could increase by $2,400 a year to pay for more tax cuts for the wealthy.
Send a message to Congress now demanding they reject this plan that pays for tax cuts for the rich on the backs of student loan borrowers.
President Trump and Congressional Republicans are ignoring the fact that a massive bipartisan majority opposes cuts to student-loan programs and financial aid.[2] They need to hear from us today!
Together, we’re demanding an economy that puts working people first, not billionaires and corporations.
John Foti
Legislative Director
Americans for Tax Fairness Action Fund
[1] To pay for Trump’s tax cuts, House Republicans could raise student loan bills for millions of borrowers
[2] NEW POLL: Overwhelming, Bipartisan Majority Reject Cuts to the Student Loan Safety Net and Financial Aid Students and Families Rely On
-- David's email --
John,
Republicans in Congress are planning to raise costs for student-loan borrowers. Their latest scheme? Raising student loan payments by $200 a month―taking thousands of dollars out of the pockets of hardworking people just to give billionaires another tax cut.[1]
Under this proposal, federal student loan borrowers could be on the hook for an extra $2,400 a year while corporations and the ultra-rich laugh all the way to the bank. That’s because the GOP will use the money taken from borrowers to finance tax giveaways for the wealthy.
Meanwhile, this new round of tax breaks for the rich will balloon the deficit and force more cuts to essential services that workers and families rely on.
Even if borrowers get a small tax cut under this plan―roughly a dollar a day―it won’t come close to covering the $2,400 a year in higher student loan payments they’ll be hit with. It’s a blatant redistribution of wealth from student borrowers to billionaires, and we can’t let them get away with it.
Tell Congress to stop forcing student-loan borrowers to pay for tax breaks for the wealthy.
And it’s not just that Republicans are raising student-loan payments, they’re also raising taxes on borrowers.[2] Right now, people paying off student loans can deduct their interest payments from their taxes. The GOP wants to get rid of that deduction, meaning borrowers will owe even more at tax time.
This plan is deeply unpopular across party lines. A new poll shows that a massive bipartisan majority opposes cuts to student-loan programs and financial aid.[3] But instead of listening to voters, House Republicans and President Trump are siding with their billionaire donors, again.
This is a direct attack on students, parents, teachers, nurses, and millions of other Americans who pursued an education and now face a system rigged against them.
Congress needs to hear from us loud and clear: Don’t force student loan borrowers to pay for tax cuts for the rich.
Thank you for fighting back against GOP attempts to further rig our economy in favor of the wealthy at the expense of working people.
David Kass
Executive Director
Americans for Tax Fairness Action Fund
[1] To pay for Trump’s tax cuts, House Republicans could raise student loan bills for millions of borrowers
[2] GOP Plans Would Raise Taxes On Student Loan Borrowers, Students In School
[3] NEW POLL: Overwhelming, Bipartisan Majority Reject Cuts to the Student Loan Safety Net and Financial Aid Students and Families Rely On
