Stage Now Set for Generational Fight Over the Trump Tax Cut Renewal

On Tuesday, after a year of record-breaking political spending by billionaires and big-moneyed interests, Americans went to the polls to cast their ballot. As votes in several key races for the U.S. House of Representatives are still being tallied and the country prepares for a second Trump term, Americans for Tax Fairness released the following statement:

“Regardless of party control, the incoming Congress faces a generational tax fight on the renewal of the disastrous Trump tax provisions that benefit the wealthiest Americans and corporations,” said David Kass, ATF’s Executive Director. “Make no mistake, billionaires spent record amounts of money this election cycle to buy themselves a tax cut worth trillions – and the vast majority of Americans will pay the price.  After the dust of this election settles our newly elected officials must choose in the coming months: Will they support a fairer tax code that requires the ultra-wealthy and giant corporations to pay their fair share to invest in and grow the middle class? Or will they spend trillions of dollars to renew tax cuts that further enrich billionaires and the elite at the expense of working and middle-class Americans? ATF and its coalition will fight for a fair tax code where the wealthy and corporations pay their fair share. We’ll hold elected officials accountable if they attempt to redirect trillions from working families to the wealthy and big corporations.”

Ahead of this election, ATF released a report revealing that 150 billionaire families contributed a record-breaking $1.9 billion in support of campaigns, with 75% backing Republican candidates and causes. This figure is sure to grow once the final FTC reports from the recent election cycle are available. For more information on ATF’s approach to the upcoming tax fight, please visit this link.