For Immediate Release
October 12, 2017
Contact: Brad Bainum, bradb@wisdems.org
GOP tax plan gifts 80% of tax cuts to the top 1% of income-earners
Around 30% of middle-income working families would face tax increase
Support exposes Nicholson and Vukmir’s plan to sell out Wisconsinites in order reward their big donors
“The first big move” of right-wing ideologue Leah Vukmir‘s Senate campaign was a secret, behind-closed-doors meeting with billionaire megadonor Diane Hendricks, who’s since become Vukmir’s campaign finance co-chair. And out-of-state billionaire puppet Kevin Nicholson had $2 million from Illinois billionaire Richard Uihlein waiting in his super PAC before he even formally launched his campaign (the number’s now climbed to at least $3.5 million).
We don’t know everything that Vukmir and Nicholson promised to do for their big donors in exchange for money and support, but with Vukmir and Nicholson’s endorsement of the Trump-Ryan tax plan, we now know that both Vukmir and Nicholson at the very least pledged to slash their megadonors’ taxes while forcing some Wisconsin working families to pay even more.
According to the Tax Policy Center, the Trump-Ryan (and now Vukmir-Nicholson) tax proposal would:
- give the top “1% of households…about 80% of the framework’s net tax cuts” by 2027,
- while causing taxes to “rise for roughly one-quarter of taxpayers, including nearly 30 percent of those with incomes between about $50,000 and $150,000.”
Read more from the Milwaukee Journal Sentinel.
