NEW NOT ONE PENNY BILLBOARD: TrumpTax Leaves Corporations Flush With Cash, Shortchanges Disaster Victims

TrumpTax Rewards Wealthy Corporations at the Expense of Flood Victims

FOR IMMEDIATE RELEASE
Thursday, March 8, 2018

HOUSTON, Texas – Today, Not One Penny unveiled a new billboard in Houston exposing the TrumpTax for giving massive tax breaks to millionaires, billionaires, and wealthy corporations at the expense of victims of natural disasters.

The Houston billboard exposes the lie that the TrumpTax benefits the middle class and urges Texans to hold Republicans accountable for voting to cut taxes for the wealthy, paid for by those struggling to recover from disaster losses.

“The TrumpTax is a massive giveaway for the rich, that will be paid for by those recovering from natural disasters,” said Not One Penny spokesperson Tim Hogan. “More than 70,000 filers claimed casualty and theft loss deductions on their 2015 tax returns. Many would lose that deduction as taxpayers can only claim losses for federally declared disasters going forward. That is cruel and puts those trying to get back on their feet at the whim of a federal agency’s declaration.”

The Tax Policy Center found that 92 million middle income families across America will pay more in taxes, while the richest 0.1 percent will get a nearly $150,000 tax break with the TrumpTax. Millions will also see a 10 percent increase in health insurance premiums and our commitment to Medicare, Medicaid, and Social Security will be undermined.

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