Rep. Johnson Highlights New Report: More than 900,000 Hard-Working Georgia Families Face Higher Taxes Under GOP’s Billionaires-First Tax Giveaway

Rep. Johnson Highlights New Report: More than 900,000 Hard-Working Georgia Families Face Higher Taxes Under GOP’s Billionaires-First Tax Giveaway

WASHINGTON D.C. – Today, Rep. Hank Johnson (GA-04) released a new report detailing the deep damage the Ryan-McConnell tax framework would inflict on middle class families across Georgia. While 80 percent of the tax benefits in the GOP plan go to the wealthiest one percent alone, about 911,000 hard-working Georgian families would pay higher taxes.

“It is inexcusable that Republicans are pushing a tax plan that hands trillions to the wealthiest while raising taxes on hard-working people in my district,” said Rep. Johnson. “The GOP is asking middle-class Georgian families to pay more, while borrowing trillions from our children in order to pad the pockets of the wealthiest Americans.”

The state-by-state report finds that under the Ryan-McConnell framework:

• About 911,000 or 20.5 percent of Georgian households will pay higher taxes in 2018;
• The average nationwide tax increase for families earning up to $86,100 would be $794: a significant burden for middle-class families;
• 1.5 million Georgia households will lose their state and local tax deduction, worth an average deduction of $9,158;
• The mortgage interest payments deduction, claimed by more than 1.1 million Georgia households would become useless for most families unless their home was worth more than $801,000 – more than five times the median home value in Georgia of $158,000.

The report was compiled by the Senate Democratic Policy and Communications Committee.

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