STATEMENT: The TrumpTax Is Hurting Arizona Families
FOR IMMEDIATE RELEASE:
Tuesday May 1, 2018
Washington, D.C. — Ahead of Mike Pence’s remarks at an event promoting the GOP tax bill in Arizona, Not One Penny spokesperson Tim Hoganreleased the following statement:
“Vice President Mike Pence should share his talking points with Senators Rubio and Corker because they haven’t got the message. Arizonans deserve to hear the truth about the TrumpTax: It is a massive boon for the wealthiest individuals and corporations at the expense of the middle class, with 83% of the TrumpTax benefits the richest 1%. Mike Pence’s attempt to convince Arizona constituents that tax cuts for the wealthy were worth cuts to their health care and economic mobility is both misleading and disingenuous.”
Key facts on the impacts of the TrumpTax in Arizona:
Since the passage of the tax law, Arizona companies have announced 1,592 layoffs.
282,400 Arizonans will lose health insurance under the TrumpTax
Roughly 1 in 3 Arizonans will see a tax increase thanks to the TrumpTax when this law is fully phased in
Next year, the average tax hike for Arizonans who are getting a tax hike will be $1,390
Next year, the richest 5 percent of Arizonans will get 50 percent of the benefit from the tax cut. Once the law is fully phased in, they will get 109 percent of the benefit.
400,320 Arizonans will see no tax cut next year.