News · Press Release

CHEAT SHEET: GOP Tax Scam Betrays Californians

Despite clear evidence that the GOP Tax Scam would disproportionately increase costs on their own constituents, California Republicans went along with their party bosses to cut taxes for the wealthy and corporations while sticking it to Californians. In fact, the plan actually increases Californians’ overall net personal income tax by $12.1 billion – the most dramatic increase of any state in the country. All the while, the plan will increase the country’s deficit by $1.7 trillion.

And for what? Look no further than the graph below:

Even the three California Republicans who voted against the GOP Tax Scam realized the devastating effects if would have on their constituents:

BELOW IS A BREAKDOWN OF WHICH CALIFORNIANS ARE PARTICULARLY TARGETED IN THE GOP TAX SCAM:

California Taxpayers

  • State and Local Tax (SALT) deduction

Homeowners & Prospective Homeowners

  • Mortgage Interest Deduction
    • The GOP Tax Scam would significantly reduce the Mortgage Interest Deduction, which allows people to deduct interest payments made on their first $1 million worth of home loans, but the GOP Tax Scam would limit home buyers to deduct interest payments made only on their first $500,000 worth of loans.
    • If the mortgage interest deduction is reduced to $500,000, roughly 489,000 Californians would see an average tax increase of about $3,290.
    • California would be the hardest hit state in the country by reducing this deduction.
    • Housing in California is amongst the most expensive in the country, and analyses suggest that the GOP Tax Scam would make it even harder for people to become homeowners.

Prospective, Current, & Former Higher Ed Students

  • Student Loan Interest Deduction

Sick People

BELOW IS A BREAKDOWN OF HOW EACH CONGRESSIONAL DISTRICT IN CALIFORNIA WOULD BE NEGATIVELY IMPACTED BY THE GOP TAX SCAM ELIMINATING THESE POPULAR, COST-SAVING DEDUCTIONS:

Rep. Duncan Hunter (CA-50)

  • SALT Deduction

o   39% of taxpayers in Hunter’s district benefit from the SALT deduction.
o   Average deduction for each taxpayer is $5,281.

  • Mortgage Interest Deduction

o   40.4% of homes in Hunter’s district – or 60,853 houses – are valued over $500,000. If any of these homeowners have a mortgage exceeding $500,000, they’ll be faced with increased costs.

  • Student Loan Interest Deduction

o   21,570 taxpayers in Hunter’s district claim the student loan interest deduction.
o   The average beneficiary saves $1,009, and the entirety of the district saves $21,755,416.

  • Medical Expense Deduction

o   22,331 taxpayers in Denham’s district claim the medical expense deduction.
o   The average beneficiary saves $9,389, and the entirety of the district saves $209,667,620.

Rep. Darrell Issa (CA-49)

Rep. Dana Rohrabacher (CA-48)

  • SALT deduction

 

Rep. Mimi Walters (CA-45)

  • Student Loan Interest Deduction

o   22,991 taxpayers in Walters’ district claim the student loan interest deduction.
o   The average beneficiary saves $1,074, and the entirety of the district saves
$24,703,183
.

  • Medical Expense Deduction

o   27,946 taxpayers in Walters’ district claim the medical expense deduction.
o   The average beneficiary saves $11,224, and the entirety of the district saves $313,652,114.

 

Rep. Ed Royce (CA-39)

  • Student Loan Interest Deduction

o   21,475 taxpayers in Royce’s district claim the student loan interest deduction.
o   The average beneficiary saves $1,049, and the entirety of the district saves $22,526,310.

  • Medical Expense Deduction

o   20,330 taxpayers in Royce’s district claim the medical expense deduction.
o   The average beneficiary saves $9,296, and the entirety of the district saves $188,979,042.
Rep. Steve Knight (CA-25)

  • SALT Deduction

o   42% of taxpayers in Knight’s district benefit from the SALT deduction.
o   Average deduction for each taxpayer is $5,323.

  • Mortgage Interest Deduction

o   39.5% of homes in Knight’s district – or 58,218 homes – are valued over $500,000. If any of these homeowners have a mortgage exceeding $500,000, they’ll be faced with increased costs.

  • Student Loan Interest Deduction

o   19,471 taxpayers in Knight’s district claim the student loan interest deduction.
o   The average beneficiary saves $1,018, and the entirety of the district saves $19,830,335.

  • Medical Expense Deduction

o   20,063 taxpayers in Knight’s district claim the medical expense deduction.
o   The average beneficiary saves $8,248, and the entirety of the district saves $165,484,374.

 

Rep. Devin Nunes (CA-22)

  • SALT Deduction

o   27% of taxpayers in Nunes’s district benefit from the SALT deduction.
o   Average deduction for each taxpayer is $2,743.

  • Mortgage Interest Deduction

o   8.3% of homes in Nunes’s district – or 12,093 homes – are valued over $500,000. If any of these homeowners have a mortgage exceeding $500,000, they’ll be faced with increased costs.

  • Student Loan Interest Deduction

o   19,565 taxpayers in Nunes’s district claim the student loan interest deduction.
o   The average beneficiary saves $979, and the entirety of the district saves $19,158,787.

  • Medical Expense Deduction

o   18,755 taxpayers in Nunes’s district claim the medical expense deduction.
o   The average beneficiary saves $9,271, and the entirety of the district saves $173,879,851.

Rep. David Valadao (CA-21)

  • SALT Deduction

o   23% of taxpayers in Valadao’s district benefit from the SALT deduction.
o   Average deduction for each taxpayer is $2,304.

  • Mortgage Interest Deduction

o   3.5% of homes in Valadao’s district – or 3,346 homes – are valued over $500,000. If any of these homeowners have a mortgage exceeding $500,000, they’ll be faced with increased costs.

  • Student Loan Interest Deduction

o   9,339 taxpayers in Valadao’s district claim the student loan interest deduction.
o   The average beneficiary saves $927, and the entirety of the district saves $8,653,669.

  • Medical Expense Deduction

o   8,542 taxpayers in Valadao’s district claim the medical expense deduction.
o   The average beneficiary saves $7,170, and the entirety of the district saves $61,249,591.

Jeff Denham (CA-10)

  • SALT Deduction

o   31% of taxpayers in Denham’s district benefit from the SALT deduction.
o   Average deduction for each taxpayer is $2,933.

  • Mortgage Interest Deduction

o   10.7% of homes in Denham’s district – or 14,614 homes – are valued over $500,000. If any of these homeowners have a mortgage exceeding $500,000, they’ll be faced with increased costs.

  • Student Loan Interest Deduction

o   16,874 taxpayers in Denham’s district claim the student loan interest deduction.
o   The average beneficiary saves $972, and the entirety of the district saving $16,397,658.

  • Medical Expense Deduction

o   16,862 taxpayers in Denham’s district claim the medical expense deduction.
o   The average beneficiary saves $10,181, and the entirety of the district saves $171,671,801.

Tom McClintock (CA-04)

  • SALT Deduction

o   42% of taxpayers in McClintock’s district benefit from the SALT deduction.
o   Average deduction for each taxpayer is $5,213.

  • Mortgage Interest Deduction

o   31% of homes in McClintock’s district – or 63,009 homes – are valued over $500,000. If any of these homeowners have a mortgage exceeding $500,000, they’ll be faced with increased costs.

  • Student Loan Interest Deduction

o   19,291 taxpayers in McClintock’s district claim the student loan interest deduction.
o   The average beneficiary saves $1,004, and the entirety of the district saves $119,361,447.

  • Medical Expense Deduction

o   33,364 taxpayers in McClintock’s district claim the medical expense deduction.
o   The average beneficiary saves $9,200, and the entirety of the district saves $306,958,466.

NOTE: Mortgage interest deduction calculations are based on married joint filers who would be subject to 28% federal and 8% state tax rates, and the assumption that homeowners have a mortgage covering the full median values of homes in each district.


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