This week marks two years since Republicans pushed their tax scam through Congress and the Democratic Senatorial Campaign Committee will highlight how their deeply unpopular legislation put corporate special interests and the wealthiest Americans ahead of working people.
Today’s highlights focus on how the “lopsided giveaway” is benefiting corporations and the wealthy. Earlier this year, reporting confirmed “Corporate America [is] paying its lowest share of taxes since Eisenhower” while analysis confirmed individuals “with big six-figure incomes were bigger beneficiaries.” A report from the Institute on Taxation and Economic Policy finds that the “law is the result of a long-term aggressive push by corporate lobbyists to reduce the federal corporate income taxes their companies pay” and that as a result, 91 of America’s largest corporations, including Amazon and Halliburton, “did not pay federal income taxes on their 2018 U.S. income.”
“The analysis is clear: the GOP tax scam was a boon to giant corporations and billionaires and a betrayal of the working families most in need of a break,” said DSCC spokesperson Stewart Boss. “Two years later, as the costs continue to pile up, it’s clear this toxic tax giveaway will continue to be a drag on the Republicans who jammed it through Congress at their constituents’ expense.”
Read more about who really benefited from Republicans’ tax giveaway to corporations and the super-rich: