Not One Penny

Menu

The TrumpTax Is Disastrous for the Middle Class, Small Businesses, and the Economy

FOR IMMEDIATE RELEASE:
Thursday, April 26, 2018

PRESS CONTACT:
press@notonepenny.org

WASHINGTON, D.C. — While Donald Trump and Republicans in Congress criss-cross the country trumpeting their failed tax plan, it becomes more and more clear that the TrumpTax was written by and for the wealthy at the expense of working people.

No matter how hard Republicans try to spin it, it is clear that the TrumpTax is disastrous for consumers, middle-class families, small business owners, workers, and our economy. And the American people know it.

Despite Republicans’ promises that their tax plan would help middle-class families, the law gives massive tax breaks to the wealthiest Americans while the vast majority of Americans haven’t seen any benefit from the TrumpTax.

Wall Street profits continue to soar under the Republican tax plan. The tax plan gives billions to the big banks and wealthy corporations that caused the Great Recession, all while small businesses are left behind.

The TrumpTax is not helping workers. Instead of helping raise workers’ wages or create new jobs, big corporations are buying back stock to further enrich corporate stakeholders and wealthy investors.

The TrumpTax adds $1.8 trillion to the deficit, threatening massive cuts to critical programs that help working families make ends meet.

Republicans falsely promised that the TrumpTax would boost economic growth, but it’s clear that this plan is another trickle-down trick.

Since its passage, Americans have continually  rejected the TrumpTax. Despite Republicans’ efforts to deceive the public about their tax plan, Americans are not falling for their lies.