John,

While congressional Republicans continue to cite our national debt as their excuse for wanting to slash federal budgets and devastate critical programs for working families, a new report from the Center for American Progress shows that it’s not spending that’s driving our country’s debt―it’s tax cuts for the rich and corporations.[1]

The original George W. Bush tax cuts and their extensions will have added $8.4 trillion to the national debt by the end of this year.

And the 2017 Trump tax cuts will add another $1.7 trillion in debt through 2023. Moreover, the GOP wants to renew those tax cuts expiring in 2025, which would cost $3 trillion more.[2]

The Bush and Trump tax cuts alone are responsible for 57% of the increase in the debt ratio (debt as a percent of the economy) since 2001 and more than 90% of the increase in the debt ratio if the extraordinary costs of combating COVID-19 ($5.6 trillion) and the Great Recession ($787 billion) are excluded.[1]

With Tax Day coming up this Tuesday, sign now to demand Congress raise taxes on the rich and corporations and not cut services for working families.

If you missed my email yesterday, I wanted you to know that this will be my last email to you as Executive Director at Americans for Tax Fairness. After 11 years―helping to found and lead this amazing, movement-leading organization―I will be retiring and handing off the reins to our new Executive Director David Kass.

Starting tomorrow, you should watch for emails from our Legislative and Policy Director Sarah Christopherson, Campaign Director Maura Quint, Digital Director Andrea Haverdink, and new Executive Director David Kass.

I am honored to have worked by your side to build the national movement to demand the rich and corporations pay their fair share so we can create an economy that works for all of us. Together, we have changed the national conversation―in the halls of Congress and at dinner tables across the country.

Thank you for being a critical part of our movement for change.

Frank Clemente
Executive Director
Americans for Tax Fairness Action Fund

[1] “Tax Cuts Are Primarily Responsible for the Increasing Debt Ratio,” Center For American Progress, Mar. 27, 2923
[2] “Making The TCJA’s Individual Tax Cuts Permanent Would Add More than $3 Trillion To The Federal Debt, Mostly Benefit High-Income Households,” Tax Policy Center, Nov. 30, 2022

-- My email --

John,

The current budget-deficit debate in Washington, like too many fiscal debates over the past 40 years, has been dominated by Republican demands to cut spending on Social Security, Medicare, Medicaid, education, housing, nutrition programs, and much more.

The GOP is even threatening to default on paying the government’s debts and forcing a full-blown government shutdown―actions that could create an international financial crisis and a deep recession here at home.[1]

And in an outrageous display of hypocrisy, Republicans are gearing up to put forward a budget that renews the Trump tax cuts that are expiring in 2025, which largely favor the rich and would add up to $3 trillion to the federal debt.[2]

But, thanks to you, we’ve helped change the conversation on the other side of the aisle in Congress and at dinner tables across the country. We’ve given Democrats and progressives the messaging research and applied the pressure to shift the debate from cutting spending on critical programs that benefit working families to raising taxes on the rich and corporations. We know that when they pay their fair share in taxes, we can prevent cuts to critical programs, invest in our future, lower costs for working families and create a more just economy.

After 11 years of helping to found and lead Americans for Tax Fairness, I will be retiring this week and handing the reins to our new Executive Director David Kass.

I am honored to have successfully fought by your side, changing the national narrative around tax fairness―ensuring that the voices of working people are heard over the rich and powerful―and in achieving critical victories like a 15% corporate profits minimum tax and major IRS investments to crack down on wealthy and corporate tax cheats and modernize the agency to better serve the American people.[3]

We’ve also begun building massive support for a Billionaire Minimum Income Tax that is now supported by 74% of likely voters including a majority of Democrats, Republicans, and Independents.[4] And, President Biden has joined us in this fight.

This coming Tuesday is Tax Day―a day where you and I pay what we owe in taxes. But due to loopholes and tax avoidance schemes, the rich and powerful are still not paying their fair share.

Sign now to tell Congress: Raise taxes on the rich and corporations; don’t cut services for working families.

Thank you for fighting by my side as, together, we have taken on Wall Street billionaires and mega-corporations and shown the power of our grassroots movement for change.

In solidarity,

Frank Clemente
Executive Director
Americans for Tax Fairness Action Fund

[1] “Debt Default Would Cripple U.S. Economy, New Analysis Warns,” New York Times, Mar. 7, 2023
[2] “Renewing the Trump Tax Cuts Benefits the Rich & Threatens Social Security, Medicare, Medicaid & More,” Americans for Tax Fairness, March 3, 2023
[3] Tax Fairness Reforms in the Inflation Reduction Act,” Sep. 13, 2022
[4] “Polling Compilation: Billionaires Income Tax Plans,” Americans for Tax Fairness, Oct. 5, 2022, and Impact Research Polling Memo, Sept. 20, 2022