WASHINGTON, D.C. – Regarding the agreement to temporarily suspend the debt ceiling reached by President Joe Biden and Republican House Speaker Kevin McCarthy on Sunday, May 28th, Americans for Tax Fairness released the following statement: 

While President Biden pushed for closing tax loopholes and taxing the wealthy, the House Republicans unilaterally rejected that option, instead demanding that all the deficit reduction come from benefit cuts targeted at the poor and programs providing essential government services while letting the wealthy pay lower tax rates than the rest of us. The IRS cutbacks will forego revenue and add to income inequality by allowing continued tax cheating by the rich and corporations.

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