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Senators Debbie Stabenow, Bob Casey & Ron Wyden Discuss Failures of Trump Tax Cuts

FOR IMMEDIATE RELEASE:
DECEMBER 11, 2019
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 Senators Debbie Stabenow, Bob Casey & Ron Wyden Discuss Failures of Trump Tax Cuts
WASHINGTON, D.C. — Today, Senators Debbie Stabenow (D-MI), Bob Casey (D-PA) and Ron Wyden (D-OR) joined Americans for Tax Fairness to discuss a new Democratic Policy & Communications Committee report detailing the failures of the Tax Cuts and Jobs Act, better known as the Trump tax cuts.
The following statement is from Tax March Campaign Director Dana Bye:
“In the two years since its passage into law, the Trump tax cuts have been a gift to the wealthiest in America, but they have been ominous and absent of economic benefits for the rest of us.
The Democratic Policy & Communications Committee report tells us the dark truth about our economy under Trump’s tax agenda: The top 1 percent received an average tax cut 64 times the size of the one given to the middle class. Businesses that have received tax windfalls have denied wage increases and job creation and instead pocketed the money for CEOs and shareholders. Trump’s tax agenda has worsened economic inequality so dramatically that inequality in the United States is now the worst it has been since just before the Great Depression. Middle and low-income women and people of color have suffered disproportionately.
Our economy is more broken than ever, and Trump’s tax law has been the sledgehammer. It’s time to repeal the Trump tax cuts for the wealthy and big corporations and rebuild an economy full of opportunity for working people, women, people of color, and so many others who have been left behind by this scam.”
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