Today, Americans for Tax Fairness (ATF), Somos Votantes, Climate En Acción and Network held a Spanish-language press briefing to discuss the political and economic impacts of Trump’s fiscal policies on Latino communities and to preview what is expected in Trump’s upcoming budget for this fiscal year. Following the briefing, ATF released an analysis revealing that Latinos’ share of the national wealth has fallen by 20% during the time Trump’s bill has been in effect and since extended. For a full recording of the virtual press conference, please use this link.
“The shrinking share of national wealth held by Latino families is yet another sign that the Trump-GOP economy is built by and for the billionaire class—who are almost exclusively white,” said David Kass, ATF’s executive director. “The results are in. Trump’s billions in tax giveaways to billionaires and big business have done nothing for the working and middle class while hurting Latino communities and exploding the wealth of the elites at our expense. To reverse this disturbing trend and build wealth in Latino and working-class communities, we must unrig our tax system and build a just tax code that works for all—not just the wealthy few.”
“Our polling tells the story and highlights the consequences behind this report: A decline in Latino wealth under Trump is also a decline in Latino support for his administration,” said Melissa Morales, Founder and President of Somos Votantes. “Voters gave him a chance in 2024 because he promised to put the economy first and lower costs from day one – and he hasn’t delivered. Over four consecutive quarters of tracking, we documented an unprecedented collapse in Latino support, with over a third of Latinos who voted for Trump now expressing regret or disappointment. Wealth allows families to buy a home, afford healthcare and save for the future, something Latinos cannot afford right now. Instead, families are feeling the weight of this failed economic agenda every time they go to the grocery store or fill up their gas tank.”
Antonieta Cádiz, Climate Power En Acción Executive Director
“Throughout his first year in office, Trump demonstrated that his priorities lie in maximizing profits for himself and those who took him to the White House, including oil and gas corporations. He promised to lower costs for everyone, but prices continue to rise and the biggest tax cuts went to the wealthiest. He eliminated federal investments and aid for the transition to clean energy, which were creating jobs and lowering energy costs. This year will be no exception to that rule.
“The President’s record stands against foundational values of our Catholic faith, and the interests of working families in America. President Trump promised to make housing more affordable, lower grocery prices, reduce the overall cost of living, and end forever wars. But his record shows the opposite,” said Elena Gaona, Director of Communications of NETWORK Lobby for Catholic Social Justice. “Catholics and all people of goodwill are organizing in our communities and joining the millions across this country who are tired of the chaos, corruption, and cruelty of the administration and allies in Congress. We are coming together to insist on a government that works for We The People, values human dignity, and builds a country where we all thrive.”