Today is Tax Day — a day where you and I pay our fair share in taxes to invest in our country’s future. But do you know who’s not paying their fair share? The richest 1%, Wall Street CEOs, and big corporations.
The Trump-GOP tax scam that passed last December doled out $1.5 trillion in tax breaks — mostly to the richest 1% and wealthy corporations, and working families have been left to pick up the tab. Now that this terrible bill has blown a huge hole in the deficit, Donald Trump and Republicans in Congress are already looking to force deep cuts to Medicare, Medicaid, Social Security and education to pay for their giveaway to the rich.
In order to invest in critical services that protect working families and older Americans, we must repeal the Trump-Republican tax cuts for the wealthy and big corporations.
The Koch brothers — the second wealthiest family in the country worth approximately $96 billion — are estimated to receive $1 billion a year in tax breaks from the Trump-Republican tax scam. [1]
Earlier this year, the Kochs and their political donor network committed to spending up to $400 million on the 2018 election as a thank you for the Republican Party’s tax cuts for the rich. [2] In fact, just 13 days after the House passed the tax law, the Kochs donated nearly $500,000 to “Team Ryan” — a joint fundraising committee of the Speaker of the House, Paul Ryan, which benefits the National Republican Congressional Committee (NRCC) and Ryan’s Leadership PAC. [3]
It’s time to end tax breaks for the Koch brothers, wealthy CEOs, and big corporations that shift profits offshore and outsource jobs. It’s time to end tax breaks for Big Pharma and greedy health insurance corporations. It’s time to close loopholes that benefit the richest 1% and Wall Street.
When we do, we’ll be able to rebuild and renew our nation’s critical infrastructure — roads, bridges, and water systems. We’ll be able to invest in our future by fully funding our schools — pre-K through college. We’ll be able to protect our environment and move towards a renewable energy future, and much more!
Together, let’s demand that our elected leaders put working families, children, and older Americans before wealthy campaign contributors and Wall Street. Thank you for everything you do for our movement.
In solidarity,
Keith Ellison
Member of Congress (D-Minn.)
References
[1] International Business Times, “Koch Brothers Net Worth: How Much Money Do Political Donors Have?,” July 1, 2017
[2] Time, “The Koch Brothers Plan to Spend a Record-Setting $400 Million,” January 28, 2018
[3] International Business Times, “After Scoring Huge Tax Cuts, Charles Koch Floods Ryan With Cash,” January 19, 2018