H.R. 1 Tax Cuts and Jobs Act overwhelmingly benefits the wealthiest individuals and corporations, and will ultimately be paid for by cuts to critical programs, like SNAP, that serve low- and moderate-income families. The bill:
- provides few, if any, tax benefits for low- and middle-income households and actually hurts many working families with changes to the Child Tax Credit and other provisions;
- increases the deficit by at least $1.5 trillion over a decade, creating enormous pressure to cut spending from vital programs like SNAP that empower households to escape hunger and poverty; and
- directly harms food banks and all non-profits by diminishing the effectiveness of the charitable giving deduction.