Tell Congress: No New Tax Cuts for the Rich in 2024
Congress returns to work on Monday and will have less than 2 weeks to avoid a government shutdown and pass a budget. Their focus needs to be on helping working people and increasing taxes on the ultra-rich. Instead they plan to try and squeeze out as many tax breaks as possible for their corporate sponsors and wealthy donors.
Back in 2017, when Congress passed the Tax Cuts and Jobs Act -- also known as the Trump Tax Scam -- it reduced the corporate tax rate from 35% to 21%. Now Republicans plan to go even further and slash that rate down to 14%.
A newly released study reveals that 81% of the benefits of the $1.3 trillion corporate tax cuts went to the wealthiest top 10% of households, with the wealthiest 1% receiving 24% of the benefits. For every dollar that a corporation received in the tax break, the pay of the top 5 executives increased from $0.17 to $0.25 -- an increase of $611,000 on average. Now, Republicans want to double down on their failed experiment of “trickle-down” economics and cut rates even further while setting themselves up to extend the personal tax cuts from the GOP Tax Scam in 2025.
Donald Trump is the frontrunner in the GOP primaries and he’s already planning on extending his tax scam, making those cuts permanent while also enacting new, even more regressive tax cuts.
Demand Congress reject new tax cuts for the ultra-rich by signing our petition now.