The Inclusive Economy
CFED Collaborates with National Partners to Launch Tax Alliance for Economic Mobility
By Chad Bolt on 03/09/2017 @ 09:00 AM
The federal government spends $660 billion every year on wealth-building subsidies to help Americans save for college, homeownership and retirement. The problem? These wealth-building programs are upside down—meaning they help the already wealthy build more wealth, but help families at lower income levels very little. As one piece of our broader strategy to flip this upside-down tax code right-side up, CFED partnered with PolicyLink to launch the Tax Alliance for Economic Mobility last week, a coalition of national organizations committed to building a tax code that is more inclusive, progressive and equitable.
CFED’s investment in the Tax Alliance couldn’t be timelier. With Congress gearing up to make changes to tax policy in some way—whether in the form of broad tax reform or simply via tax cuts—making sure the tax code works for everyone has never been more important. The Tax Alliance is made up of nearly 40 national advocacy organizations, racial justice groups, think tanks and tax experts coming together to ensure that tax reform debates move in the direction of equity, not exclusion. Organized around four broad areas of tax policy—homeownership, higher education, retirement and tax credits for low-income workers—the Tax Alliance has four working groups that respond to legislative proposals and looming congressional threats to an equitable tax code. The Tax Alliance has published four principles documents describing each of these areas.
The work of the Tax Alliance is fueled by a diverse group of leaders, but our success also depends on you. We’re committed to leveraging the Tax Alliance to deliver the tools and resources you need to be an effective advocate for inclusive and equitable tax reform. On our new website, you’ll find a series of resources and publications that explain key issues and how you can engage. There, you can also connect with the member organizations, all of which are respected leaders inside the Beltway and nationally on issues that affect the financial well-being of the most economically vulnerable communities. And, if you sign up for updates, you can receive periodic updates about recent developments on the national tax reform stage, including our brand-new newsletter.
The members of the Tax Alliance span a broad range of interests and missions, but they are united for a tax code that is more inclusive, progressive and equitable. We hope you’ll unite with us as we work to make this vision a reality.