GOP Tax Plan Sends 80% Of Cuts To Ultra-Rich, Large Corporations

For Immediate Release
Thursday April 26, 2018
Contact: Brad Bainum, bradb@wisdems.org

FACT CHECK: GOP Tax Plan Sends 80% Of Cuts To Top 1%, Large Corporations

The law gives the out-of-state billionaire Koch brothers, who are sponsoring tonight’s debate, an extra $1 billion — each year
 

MADISON — It should come as no real surprise, but at tonight’s GOP Senate candidate forum, both Kevin Nicholson and Leah Vukmir just restated their support for the deeply unpopular Republican tax law that’s a corrupt giveaway to the wealthy few.

“Americans still hate the new GOP tax law” — with just 39% supporting the scam law — but both Leah Vukmir and Kevin Nicholson are nevertheless staking their U.S. Senate candidacies on the measure that’s a giveaway to the corporate special interests and right-wing billionaire donors bankrolling their campaigns.

The billionaire Koch brothers, the sponsors of tonight’s debate, are each set to become $1 billion richer each year from the GOP tax law — so you can be sure they’re ecstatic to hear Vukmir and Nicholson singing the law’s praises.

It’s no wonder that Americans aren’t crazy about the tax law, because the #GOPTaxScam is, well, a scam. The Republican law:

• Sends 80% of benefits to the richest 1 percent and big corporations like Exxon, Wells Fargo and drug companies like Pfizer;
   

• Shoulders 53% of Americans with tax increases once the law is fully implemented;
   

• Spikes health care premiums by 10 percent, and leaves 13 million more Americans without health insurance coverage; and,
   

• Sets the table for Republicans to pursue deep cuts to Medicare, Medicaid and Social Security — vital programs that cover millions of Wisconsin seniors and kids.