FOR IMMEDIATE RELEASE
Tuesday, April 17, 2018
Contact: Brad Bainum, bradb@wisdems.org
Vukmir, Nicholson back paying for Big Pharma tax breaks with Social Security and Medicare cuts
In December, Vukmir promised that the tax law — which hikes taxes on 53% of Americans at full implementation — would be “good for everybody.” But every passing week has brought new reports of Big Pharma drug companies and already highly-profitable corporations like Kimberly-Clark rewarding executives and investors, while workers get laid off or left behind, and consumers get stiffed.
USA Today: Tax cut savings flow to company stockholders, trickle to hourly workers
USA Today: Drug companies get tax windfall, but they’re not reducing prescription prices
Business Insider: Americans still hate the new GOP tax law — and Republicans should be nervous
Washington Post: The richest Americans get a $33,000 tax break under the GOP tax law. The poorest get $40.
Axios: Pharma’s $50 billion tax windfall for investors
And it gets worse: in addition to spiking health care premiums by 10 percent, the tax law is paired with a Republican federal budget plan that calls for deep, Vukmir and Nicholson-endorsed cuts to Social Security and Medicare, and which would put nursing home care coverage at risk.
“Kevin Nicholson and Leah Vukmir support the GOP tax law because it’s a sham giveaway to the corporate special interests and right-wing billionaires backing their campaigns — and that’s who they’re running to work for, not hardworking Wisconsinites,” said Brad Bainum, DPW spokesperson for the 2018 Senate race.
