FOR IMMEDIATE RELEASE:
Monday, April 15, 2019
PRESS CONTACT:
Ryan Thomas
[email protected]
Americans Still Hurting From GOP Tax Scam, Want Corporations and the Wealthy to Pay Fair Share
WASHINGTON, D.C. — This Tax Day, as millions of Americans file their taxes, it could not be more clear that the tax code has been rigged against the many to benefit the wealthy few. Recent polling released by Tax March shows the American people want to repeal the GOP tax law in favor of policies that ensure the wealthiest individuals and largest corporations pay their fair share.
Speaking out against the impacts of the GOP tax law, Tax March Executive Director Maura Quint released the following statement:
“Despite Republicans’ false promises, the American people are now seeing firsthand how the GOP’s tax law was written to benefit the wealthiest individuals and the largest corporations at the expense of working people. As millions of people file their taxes, Republicans’ corruption and greed is on full display.
“While Republicans in Congress and the White House continue to attack the middle class and attempt to further rig the economy, the American people will continue to hold the GOP accountable for putting profits over people and for handing the rich trillions in tax cuts.
“Repealing this disastrous tax law is the first step to undoing the monumental harm it has caused to the economy and to families struggling to get by, let alone get ahead. Instead of tax breaks for corporate jets and tax cuts for inherited wealth, we must ensure that wealthy corporations and the rich are paying their fair share.”
Additional information about the impact of the GOP tax law is included below:
The country’s largest corporations, from big pharmaceutical companies to the banks responsible for the Great Recession, were handed billions in tax savings.
- Axios: 4 Pharma Companies Saved $7 Billion From GOP Tax Law
- Business Insider: Trump’s Tax Cuts Added $3.7 Billion To JPMorgan’s Profits
- NBC News: Twice As Many Companies Paying Zero Taxes Under Trump Tax Plan
- Politico: Trump’s Tax Law Makes Big Winners Of Banks, Giving $29B Boost To Profits
Workers across the country face mass layoffs after Trump and Republican lawmakers cut taxes for the largest corporations.
- Bloomberg: U.S. Banks Win $21 Billion Trump Tax Windfall Then Cut Staff, Loaned Less
- NBC News: Factory Workers At GM See Layoffs, Not Benefits, After Tax Cuts
- The Washington Post: A $300 Billion Business Tax Break Meant To Raise Wages Is Instead Helping Companies Replace Workers With Machines
Stock buybacks have reached record highs, as companies use their tax savings to enrich corporate executives and wealthy investors.
- Bloomberg: The Tax Law’s Big Winner Is the Millionaire CEO
- CNN Business: Corporate America Gives Out A Record $1 Trillion In Stock Buybacks
- Politico: ‘Eye-Popping’ Payouts For CEOs Follow Trump’s Tax Cuts
The American people see this tax law for what it is: a scam. A vast majority of Americans know that Republicans rigged the tax code to benefit the wealthy.
