Thursday, April 5, 2018
Contact: Brad Bainum, [email protected]
Vukmir-Nicholson #GOPTaxScam is Still a Giveaway to the Richest Americans
GOP tax law sends more than 80% of benefits to the richest 1% and big corporations like Exxon and Pfizer, while hiking taxes on middle-class Americans
MADISON -- A new report from the non-partisan Tax Policy Center looks at the Leah Vukmir and Kevin Nicholson-supported #GOPTaxScam, finding,"The Republican tax law passed last fall will give the richest 1 percent of Americans an average personal income tax break of about $33,000, while the poorest Americans will receive an average personal income tax break of $40."
The Tax Policy Center's new isolated look at the law's regressive disparity in individual income tax savings is the clearest sign that the Republican tax law -- which Vukmir and Nicholson have made a central part of their respective Senate campaigns -- is a massive giveaway to big corporations and the wealthy few that's shouldered by hardworking, middle-class Americans.
The #GOPTaxScam sends more than 80 percent of benefits to the richest one percent and big corporations like Exxon, Wells Fargo, and drug companies like Pfizer, while hiking taxes on hard-working, middle-class Americans. And the tax law is paired with a Republican federal budget plan that calls for reckless Vukmir and Nicholson-endorsed cuts to Social Security, Medicaid and Medicare.
"This new report is just the latest confirmation that Leah Vukmir and Kevin Nicholson's GOP tax law is a scam giveaway to the right-wing billionaires and corrupt corporate special interests bankrolling their campaigns," said Brad Bainum, DPW spokesperson for the 2018 Senate race. "Big corporations like Kimberly-Clark are already using their disproportionate tax breaks for stock buybacks, then laying off hardworking Wisconsinites -- it isn't right, but Vukmir and Nicholson are staking their political futures on this scam tax law, anyway."