FOR IMMEDIATE RELEASE:
APRIL 14, 2020

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Thanks to Congressional Republicans, the Vast Majority of Latest Coronavirus Tax Relief Goes to — You Guessed It — Millionaires

WASHINGTON, D.C. — According to a letter sent to Rep. Lloyd Doggett (D-TX) and Sen. Sheldon Whitehouse (D-RI) from the Joint Committee on Taxation (JCT) publicly released today, a tax cut included in the coronavirus relief package passed by Congress last month hands more than 80 percent of its benefits to millionaires — or, just a subset of the richest 1 percent of Americans. Additionally, 95 percent of beneficiaries from this tax cut provision make more than $200,000. 

Read the JCT’s letter here.

Tax March Executive Director Maura Quint responded:

“While middle- and low-income people across the country have been facing historic levels of unemployment, housing and food insecurity, threats to health care, collapsing small businesses, and countless other urgent, daunting issues, congressional Republicans chose to hand the nation’s richest people — likely including President Trump — a massive tax break. 

People deemed ‘essential workers’ aren’t making living wages, hospitals are running out of space and resources for patients, millions of people are newly unemployed, and the death toll is steeply mounting. Congress needs to repeal this tax provision, which is nothing but thinly veiled pandemic profiteering by the powerful, for the wealthy.”

Last week, Tax March released its own list of ‘Dos and Don’ts’ for the fourth coronavirus relief package. 

Congressional Republicans cannot continue putting the wealthy over the rest of us. We don’t have private islands and assets to keep us afloat — we need our lawmakers to put people first.