Create your personal statement in regards to the upcoming Tax Reform legislation

Senate Republican leaders say they have the votes to pass a sweeping tax-cut bill as early as Wednesday. The bill is expected to lower the top individual tax rate to 37 percent and set the corporate tax rate at 21 percent. The bill would also cap the popular mortgage interest deduction at $750,000, a midpoint compromise between the Senate and House bills. Although they have not yet released an analysis of the current bill, in November, the Congressional Budget Office confirmed that the proposed GOP tax bill would add more than $1 trillion to the national debt over the course of a decade, and increase the country’s debt-to-GDP ratio by 5.9 percent.

As Congress moves toward passing a sweeping tax-cut bill, we are looking for short statements from Up to Us representatives about the implications that this bill could have on you and/or young Americans. Please note that your statement may be shared on social media or pitched to the media.

If you are interested in sharing your thoughts or personal statement, please follow these simple steps below and submit your statement to the team ASAP by emailing jstudent@netimpact.org with the subject line “Tax Reform Statement”.

Consider the following information when drafting your statement:

• Include a brief explanation of the situation (i.e. Congress is preparing to pass tax reform legislation next week)
• Explain the impact that the currently proposed tax reform legislation could have on you and/or young Americans
• Include a call to action (i.e. urge Congress to consider the next generation)
• Mention Up to Us - Incorporate messaging about how the Up to Us movement – which you are a part of – is mobilizing young people across the country about fiscal sustainability.
• Stay under 150 words
• Consider referencing compelling data points, such as:
  • The national debt has already surpassed $20 trillion.
  • The tax bill is expected to add more than $1 trillion to the national debt over the next ten years.
  • If the U.S. fails to address the long-term debt, the federal government will have a much harder time investing in priorities for economic growth, like education, infrastructure or R&D.
  • The average income loss for a family of four in 2047 due to the growing national debt is projected to be $16,000.
  • Interest costs on the national debt are on track to become the largest single category of the federal budget by 2050.

Looking for some inspiration or wondering where Up to Us stands? Below you will find several example tax reform statements previously drafted by Up to Us:

Up to Us statement on tax reform

As lawmakers review and debate the recently released Tax Cuts and Jobs Act, it is important they keep in mind who will inherit the consequences of the policies they're putting into place today. Young Americans have the most to gain –or lose –from the fiscal policies being decided in Washington. At a time when the national debt has reached $20 trillion, it’s more important than ever that tax reform improve—not worsen—America’s fiscal outlook. Up to Us is calling on our representatives in Congress to broker fiscally responsible legislation that will help–not hurt –the next generation.

Up to Us statement on the passage of a Continuing Resolution

The deadline drama continues as lawmakers today passed a continuing resolution to fund the government through December 22. However, what all Americans –but particularly young Americans –need is a long-term plan that puts the country on a sustainable fiscal course. It is important to remember who stands the most to gain –or lose –in our country’s fiscal debate. A tax reform bill that threatens to add more than $1 trillion dollars to the national debt will ultimately leave young Americans to bear the burden. Failure to address the trajectory of the debt could result in multiple barriers to millennials, including purchasing homes, having access to government programs, and finding good paying jobs. As the debate continues over the next two weeks, Up to Us urges Congress to consider the next generation and help guarantee a brighter economic future for everyone.