FOR IMMEDIATE RELEASE

CONTACT:

Carter Dougherty
carter@ourfinancialsecurity.org
(202) 869-0397

AFR Condemns Effort to Cut Taxes for Wall Street

From Lisa Donner, executive director, Americans for Financial reform, in response to Trump tax speech:

“Everything we know about the emerging plan suggests that the Trump administration and its allies in Congress are ginning up big tax cuts for Wall Street. Trying to mask who will benefit with rhetoric about attacking a ‘rigged system’ while favoring the super-rich like the Goldman Sachs alumni now installed at the highest level of government is particularly hypocritical.”

• Cutting corporate tax rates, a main purpose of the tax proposals would disproportionately benefit big banks
• Research makes clear that cuts  in the pass through tax rate which are being described as aimed at small businesses in fact benefit wealthy Americans who structure their businesses a certain way
• Goldman Sachs is a dominant voice in the Trump administration thanks to appointees like Treasury Secretary Steve Mnuchin and White House economic adviser Gary Cohn.

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