The most effective way to solve America’s affordability crisis is to put cash back in people’s wallets. We can do that by electing a new Congress on Nov. 3 that is committed to passing the Working Americans’ Tax Cut Act.
Despite what President Trump claims, higher costs for American families are no hoax. We’re all paying more to fill our gas tanks, feed our families, and keep a roof over our heads. The average family is paying $4,200 more for basic necessities since Trump returned to office.
The Working Americans’ Tax Cut Act would provide direct relief to working- and middle-class Americans. The math is simple. The bill exempts the first $46,000 of income for individuals—and $92,000 for married couples—from federal income taxes entirely. And it provides a substantial tax cut to middle-class families.
If you’re a new graduate making less than $46,000 at your new job, you’d pay no federal income tax. That’s life-changing for someone just starting out and trying to make it on their own. If you’re a nurse or teacher making $50,000, you’d receive a tax cut of approximately $2,800. And a family of four making $95,000 would receive a $6,000 tax cut.
That’s not pocket change. It’s a significant economic boost that helps people afford the basic building blocks of a decent life and the relief would be widespread across our country. According to the Institute on Taxation and Economic Policy, the Working Americans’ Tax Cut Act would benefit 130 million Americans, including 25 million children.
This tax cut wouldn’t add a cent to the national debt because it’s paid for by forcing rich Americans to pay their fair share. Millionaires and billionaires would pay a new tiered surcharge on their wages and other income such as capital gains and investments. The Yale Budget Lab estimates this would raise $1.46 trillion over 10 years. So not only does this get cash in the hands of people who most need it, it also restores fairness by creating a more progressive tax code and valuing work. It’s unconscionable for a hedge fund manager or a billionaire to pay less in federal taxes than a teacher or firefighter.
The Working Americans’ Tax Cut Act can’t happen unless we elect a new Congress in November. Congressional Republicans have refused to even consider the bill and have already adjourned, abdicating their responsibility to help the people they represent.
We know the priorities of the status quo Congress because we’ve lived with the consequences. This Congress has spent the last two years acquiescing to the costly demands of President Trump. The only meaningful legislation they passed was President Trump’s so-called Big Beautiful Bill, which gave $1.3 trillion in tax cuts to the wealthy by cutting healthcare, food assistance, jacking up student loan payments, and making life harder for American families. And some of the worst impacts of the bill don’t even go into effect until January. The President’s war with Iran has caused record prices at the pump and increased inflation.
All told, Americans are paying on average 50% more for a gallon of gas since the Iran war started and heating oil is up 60%. Because of Trump’s Big Beautiful Bill, the average family will pay $4,000 more on their student loans and those who get their healthcare through the Affordable Care Act have seen their premiums rise by 50%. Grocery prices are now 4% higher than when President Trump took office and families have had to spend an additional $833 on housing costs.
So yes, working- and middle-class Americans need a tax cut and they need it now.
The Working Americans’ Tax Cut isn’t a panacea. We must still fight to make healthcare and college affordable, increase the minimum wage, ensure a secure retirement for all, and strengthen the right of every worker to join a union and negotiate a better future with their coworkers.
This working- and middle-class tax cut, and the direct relief it provides, moves us closer to restoring the basic American bargain that if you work hard you should be able to provide a decent life for your family. But only if we elect majorities in Congress who commit to passing it.
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