This fact sheet provides a snapshot of the current economic state of the Latino community in the United States. It includes the latest statistics on the economic well-being for the nation’s Latino community, including population, employment, and earnings data, among other key indicators. Together, these measures help paint a portrait of Latinos and their economic prospects for the future.
Oct 10 2017
Republican Plan Taxes Americans Twice
President Trump and Congressional Republicans’ tax proposal threatens to take the state and local tax deduction (SALT) away from over 40 million households. State and local deductions are not a partisan issue – both red and blue state families use them to save hard-earned money on their federal tax returns. The SALT deduction ensures Americans are not taxed twice on the same income.
Oct 06 2017
President Trump Job Tracker September 2017
Joint Economic Committee Democratic staff are comparing job growth each month to the average in the late 1990s (a boom time in the economy), but also to the best individual month each series has ever seen.
Oct 06 2017
GOP Child Tax Credit Too Little, Too Late
The child tax credit (CTC) is a crucial component of our nation’s commitment to ensure that all children grow up in financially secure households. The CTC provides both broad support for children and helps lift families out of poverty. Last week, Republicans released a tax plan they claim strengthens the CTC, but it falls woefully short of the meaningful reform working families need.
President Trump and Congressional Republicans continue to claim that their tax plan will help the middle class. Yet, the Republican tax framework will increase taxes for almost 8 million working families next year.
Oct 04 2017
DACA by the Numbers
Since 2012, Deferred Action for Childhood Arrivals (DACA) has helped nearly 800,000 young people who came to the United States as children work legally, get driver’s licenses, pursue a college education, and lead their lives without the constant threat of deportation. To build on these gains, Congress should pass the Dream Act now so that all Dreamers have the opportunity to fully contribute in the American economy and to their local communities.
Oct 02 2017
Corporate Profits Soar While Tax Revenue is Flat
Congressional Republicans want to cut the corporate tax rate to 20 percent, but corporations have already been taking home more of their rising profits tax free. Corporate profits increased by more than 40 percent from 1979 to 2015, relative to GDP, while corporate tax revenue has fallen by more than 30 percent over the same period. Big corporations can lower their corporate taxes using a menu of hard-lobbied deductions and credits and by using accounting tricks to shift their profits to low- or no-tax countries. More than half of U.S. companies’ foreign profits are reported in just seven tax havens.
Despite insisting that tax reform would focus on working families and small business tax relief, yesterday President Trump and Congressional Republicans released a tax plan that slashes taxes for “pass-through” income earned by the wealthiest Americans. Pass-through income is business income filed through an individual tax return. Cutting taxes for well-paid pass-through owners would do little to support Main Street entrepreneurship and would only force working Americans to shoulder more of the tax burden. Republicans should work with Democrats to craft a tax plan that helps small businesses grow in every corner of the nation, rather than finding backdoors to give sweetheart tax deals to Trump and big businesses that game the system.
Sep 27 2017
America's Digital Divide
Our economy is increasingly becoming dependent on access to high-speed internet connections. Access to the internet brings unprecedented economic opportunities for users, especially for people living in remote areas, for whom the internet opens a window to the world. The internet, and access to it, has changed our world in such a profound way that for many people, life without it is unimaginable.
Sep 27 2017
The Benefits of a Connected America
To ensure that all Americans have access to resources that can help them thrive in a digital world, Congress must focus on expanding access to broadband internet and work to close the digital divides. Expanding broadband internet access connects people and information across the world, opening up previously unavailable economic, educational, and health care opportunities for Americans – particularly among those with limited access communities.