On Friday, Senate Republicans passed a bill with some $1.5 trillion in tax cuts, overwhelmingly weighted to the wealthiest Americans. The bill lavishes tax cuts on Wall Street banks, on executives who can manipulate their legal status to obtain a lower tax rate, and on operations in foreign tax havens. In contrast, ordinary Americans earning wages and salaries receive very limited benefits, and in many cases will see their taxes increased.
The Take on Wall Street campaign denounces the passage of a tax bill in the House of Representatives that would give Wall Street and the 1% over $1 trillion in tax breaks while leaving many middle-income Americans paying higher taxes, increasing the public deficit, and leading to deep cuts in important public services.
The Take on Wall Street campaign denounced the proposed tax bills for effectively preserving the carried interest loophole for Wall Street money managers, a loophole Trump promised to close during the campaign trail.
The Take on Wall Street campaign denounces the just-unveiled tax bill as a giant giveaway to an industry whose reckless behavior led to a searing recession from which many Americans have not yet recovered.
On Wednesday, Republican Congressional leaders and the Administration released their tax framework. “This ‘plan’ amounts to a package of tax cuts for Wall Street and the 1%” …
Washington DC – On Tuesday, groups with the Take on Wall Street campaign made their voices heard outside a Senate Finance Committee hearing, opposing tax cuts for millionaires, billionaires, and wealthy corporations, and demanding that tax legislation focus on closing loopholes and making Wall Street