When the time comes to pay that $1.5 trillion price tag, dollars will be taken from programs that serve and protect our young, our elders, and our sick.
The new tax law is no gift to America. As a foundation committed to creating a California where everyone enjoys good health and experiences wellness, we are profoundly disappointed in the sweeping tax cuts signed into law at the end of 2017. This overhaul of our nation’s tax code, which will cost nearly $1.5 trillion, takes money away from those who are poor and middle class and hands it to those who are already in the top percentile of wealth.
We are not fooled. We recognize that when the time comes to pay that $1.5 trillion price tag, dollars will be taken from programs that serve and protect our young, our elders, and our sick. It will come from cuts to essential programs such as Medicaid, Medicare and programs that help people in times of need such as unemployment. It will come from our schools and other vital public services. It will come from the dismantling of the Affordable Care Act, by slashing subsidies, eliminating the individual mandate and reversing progress in providing health care coverage to millions.
We are outraged that this new tax law, which further cements our status as a nation of profound inequality, was enacted despite the fact that so many were not in favor of it. More than 50% of people polled by CNN said they did not want the bill to proceed, yet proceed it did. As funders, we know that our resources can only do but so much. It is critical that government live up to its responsibility to serve all of the people who reside within its borders, not just those whose bank accounts are largest.
As a foundation committed to equity, we are determined, now more than ever. We call upon other funders committed to the public good to join with us as we move forward with even greater resolve to build the power of the many, not the few. Raise your voice in support of the organizations working to serve our most vulnerable communities. Join us as we continue encouraging Californians, and those throughout the country, to stand up for policies that reflect their interests, meet their needs, and support the ideals of equity, justice and care for all.
Visit these Cal Wellness grantees to learn how the new tax law affects California and the nation: