Today, the GOP-controlled House Ways and Means Committee held its first hearing as they prepare a legislative package that will give new tax cuts to the wealthy and big corporations. Throughout the hearing, the billionaire-backed majority made widely disproven claims about their plans to cut taxes for the ultra-wealthy and giant corporations while gutting services and programs for working families. In response, Americans for Tax Fairness released the following statement.
“Last time Trump and the GOP held a trifecta they moved fast to create new tax breaks rewarding wealthy corporations for moving jobs overseas and harming hard-working families across the country. Now, they’re working to pass new tax breaks that will allow these same powerful corporations to evade paying their fair share and eliminate American jobs,” said ATF Executive Director David Kass. “The disastrous effects of the Trump tax scam are not theoretical—they’re reality. It didn’t raise wages for everyday people or protect our jobs and it certainly didn’t pay for itself. Instead, it doubled billionaire wealth and added over $1.5 trillion to the deficit. No amount of misinformation can hide the truth: This massive new giveaway to the ultra-wealthy and giant corporations comes at the expense of working and middle-class Americans.”