Rep. Speier held a town hall meeting at CSM on February 3 to address the Peninsula community’s concerns with changes in the tax code going into effect next year. In attendance were IRS spokesman Paul Axelson, state Sen. Jerry Hill, Assemblyman Kevin Mullin, D-South San Francisco, and tax attorney and CPA Russ Stanaland. The panel expounded upon the new tax plan and clarified its possible impact on residents of San Mateo as well as the rest of the Peninsula. Speier expressed concern over the increase in the federal deficit—2.3 trillion—that the tax plan would add over the course of the next 10 years.
Speier was likewise concerned over the apparent gain for wealthy taxpayers while programs for the lowest earners would be cut. “So who pays in the end for this little benefit that some of us are going to receive? … It’s our kids. It’s truly serious,” Speier said. While the main concern of the audience was cuts to Social Security and Medicare, Speier felt confident that, given the pressures of campaign season, those programs should remain safe, for now.