Broadly, the tax bill before Congress (in both its House and Senate versions) proposes to cut the standard corporate tax rate from 35 percent to 20 percent, reduce personal income tax rates, reduce a range of tax preferences, including the deductibility of state and local income taxes, and increase the child tax credit and the standard deduction. The “sunsetting provisions” of many of the changes in the personal income tax suggest that the most important long-run effect would be the reduction in the corporate tax rate, and experts agree that the bill will bring disproportionate benefits to the wealthiest of the wealthiest Americans. It’s difficult, though, to see how the tax bill will perform in terms of gender equity. All we can say for sure is that it represents a missed opportunity to move toward a more gender-neutral individual tax system or to use the personal income tax to better support working women.
Recent federal proposals to gut SNAP benefits and states’ calls to add paid employment and drug-testing as eligibility determinants are nothing new. They reflect longstanding concerns with dependence, waste, and fraud, as well as anxiety that black people, indigenous Americans, and immigrants might rise above abject status. They also reveal a widespread and longstanding suspicion of poor people—particularly poor women and especially poor women of color—as undeserving.
On June 8, 2017, the House of Representatives passed the Financial CHOICE Act. If signed into law, this Act will roll back numerous regulations set in place by the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act. News reporting about this Act has centered on the government’s role in Wall Street bail-outs and the risks and benefits of regulating how financial advisors invest consumers’ money. Analysis of its gendered and racialized impacts by contrast have been markedly absent. Beyond eliminating regulations for financial institutions, the Financial Choice Act also threatens to dismantle the Consumer Financial Protection Bureau (CFPB), an independent government agency that investigates exploitative financial practices on the behalf of U.S. consumers. If signed into law, the Financial Choice Act would dramatically reduce the resources individuals have to challenge incorrect, outdated or damaging information about them in their credit reports, a change that holds significant consequences for people of color and transgender individuals.
Top six memes celebrating the first 100 days of Trump Administration policies on trade.
Yesterday, European Trade Commissioner Cecilia Malmström accepted the Association of Women in International Trade’s prestigious woman of the year award in Washington, D.C. In her acceptance speech, “Building bridges, smashing glass ceilings”, Commissioner Malmström emphasized that trade liberalization and gender equality are mutually supportive, noting that the two most trade-enabling countries in the world —The Netherlands and Singapore— are also “highly gender equal” when it comes to wages. This point is an important one to emphasize within the current debate on the costs and benefits of trade agreements to which the United States is a party, and is supported by research.
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