Millions of senior citizens could see tax increases under the Senate version of the GOP’s tax-reform plan, according to an analysis from the AARP.
In an article published Wednesday on the group’s website, the AARP’s vice president and policy director argue that 1 in 5 seniors, about 6.3 million taxpayers, will see either no change or a tax increase in 2019 under the plan passed by the Senate Budget Committee. Of those individuals, 1.2 million people would get a tax hike.
The authors argue that number will jump “more than four times” by 2027 to 5.2 million seniors “as a result of sunsetting the middle-class tax cuts.”
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Another issue of concern for older Americans, the AARP says, is the automatic cuts to Medicare and other services under the GOP plan.
“The bottom line is that even today’s 65+ as well as those who turn 65 by 2027 who benefit initially may end up paying higher and ever increasing taxes soon thereafter,” the authors write.
“Further, as the result of growing deficits, they may receive reduced value from Medicare or other programs that are central to older Americans’ wellbeing.”
The Senate Finance Committee approved the chamber’s tax bill earlier this month, and on Tuesday, the Senate Budget Committee advanced the bill on a party-line vote. It will now head to the full Senate floor for a vote.
Protesters repeatedly interrupted Tuesday’s Budget Committee meeting, chanting phrases such as “stop the tax scam” and “kill the bill.” Thirty-six demonstrators were arrested by Capitol Police.
A similar bill passed the House earlier this month by a margin of 227-205, with no Democratic support. More than a dozen Republicans broke ranks to oppose it.