John,

The results of the New Hampshire primary are in and it appears that Donald Trump will run away with the Republican presidential nominee. This means that Trump’s policies will now become the official platform that the Republican Party will run on in 2024.

Already, Trump has floated the idea of extending permanently for the richest Americans temporary tax cuts from his 2017 tax law.[1] In 2020, 72% of the tax cuts from the Trump Tax Scam went to the richest 20% of Americans.[2]

And, according to The Washington Post, Trump may be looking to lower the corporate tax rate even further in a potential second term:

In 2017, Donald Trump and Republicans lowered the corporate tax rate from 35% to just 21%―though Trump wanted to take it as low as 15%.

Of course, the corporate tax rate should never have been cut in the first place. Over the last 75 years, corporate taxes have accounted for a lower and lower share of total federal revenue. In the 1950s, the corporate income tax accounted for roughly 25% of tax revenue, but today only makes up about 7%.[3]

When the wealthy and corporations pay less in taxes, our nation’s wealth and income gaps widen—disrupting our society, destabilizing our economy, and endangering our democracy. We’re fighting back against attempts to further rig our tax code for the wealthy and corporations and instead create an economy that works for working people.

Donate today to power our research and advocacy in this critical election year as we fight for a democracy that is of, by, and for the people, not the billionaires.

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Thank you for powering our campaign today,

Maura Quint
Campaign Director
Americans for Tax Fairness Action Fund

[1] Trump Eyes Keeping 21% Corporate Tax, Extending Individual Cuts
[2] TCJA by the Numbers, 2020
[3] Policy Basics: Where Do Federal Tax Revenues Come From?