Petition to Congress:
"Americans resoundingly rejected Republican tax policy in November. Congress should block the Brady tax bill, which is full of holiday handouts for wealthy special interests and preserves the Trump Tax Scam's incentives for outsourcing jobs."
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The Trump Tax Scam's handouts for wealthy corporations proved so ineffective and unpopular that the bill contributed to historic blowout losses for Republicans in the recent elections, with the largest gains for Democrats in the House of Representatives since 1974.1
So, of course, Republicans have responded with a new bill full of tax-handout holiday gifts for rich and well-connected elites.2
House Republican Kevin Brady recently introduced a new tax package full of handouts for Wall Street, and Republicans are expected to move it forward as soon as Thursday.3 We can't let that happen.
It is a rotten holiday season for General Motors workers. The company announced a few weeks ago that it is cutting 15 percent of its American workforce and shuttering five manufacturing plants.4 The 2017 Trump Tax Scam provides tax incentives for companies to do just this sort of outsourcing.5
But instead of ending Trump's outsourcing incentive, Republicans are trying to make it a very happy holiday season for well-connected elites, financiers and special interests. And in last-minute changes to the bill on Monday, Republicans added even more special interest tax breaks and language repealing a decades-old amendment that prohibits nonprofits from engaging in political activities.
The new Brady tax package fails to repeal the worst of the Trump Tax Scam. In fact, it tinkers with a bill American voters soundly rejected at the polls. House Republicans are in such a rush to pass it without hearings or a chance for Democrats to adequately review its hundreds of pages that we are not even sure of the full extent of the damage it would do. But allies already know it "contains handouts and favors for narrowly tailored and wealthy special interests such as NASCAR race track owners, race-horse breeders, movie producers, venture capitalists, and paid tax prep companies."6
The end of year, lame-duck session of Congress creates intense pressure. Lobbyists press their advantage on members of Congress desperate to wrap up business and head out of town. We need a fierce response to make sure corporate Democrats stand strong and Republicans abandon their plans for yet more tax handouts for the wealthiest few.
Tell Congress: No holiday tax handouts for Wall Street. Click below to sign the petition:
-Josh Nelson, Co-Director, CREDO Action
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