John,
“We didn’t pick winners and losers.” That was Senator Chuck Grassley (R-IA), chairman of the Senate tax-writing committee, in a recent Fox News op-ed.
Senator Grassley was referring to the $170 billion that he and Mitch McConnell just handed to wealthy business owners in the $2 trillion COVID-19 legislation passed a couple of weeks ago. Research shows that 82% of those tax breaks went to 43,000 wealthy business owners, each making at least $1 million each year.
Donate immediately to Americans for Tax Fairness to demand Congress repeal this outrageous tax giveaway to the richest Americans in COVID-19 response legislation. It’s unconscionable that we’re handing $170 billion in tax cuts to the wealthiest 1% when over 20 million Americans have filed for unemployment and frontline workers, cities and states struggle to contain the pandemic.
Read Frank’s email below to learn more about how Senate Republicans are using the pandemic to hand billions of dollars to those on top.
Thank you,
Andrea Haverdink
Deputy Digital Director
Americans for Tax Fairness
-- FRANK'S EMAIL --
John,
In the last COVID-19 response package, Congress handed $170 billion in tax giveaways to wealthy business owners. And now we know where that carve-out came from.
Senator Chuck Grassley (R-IA), chairman of the Senate tax-writing committee, recently defended that massive giveaway to millionaires and billionaires in a Fox News op-ed claiming, “we didn’t pick winners and losers.”[1] But, indeed, Grassley and his Republican colleagues, including Mitch McConnell, did just that.
An astonishing 82% of those tax breaks will go to 43,000 business owners making more than $1 million this year.[2] Their average tax break in 2020 from this tax giveaway—$1.6 MILLION. Meanwhile, 125 to 150 million individuals will get cash assistance of just $1,200 this year to help with the pandemic.[3] THAT’S DISGUSTING!
Grassley claims that our calls for economic and tax fairness are “driven by class warfare…taking aim at pass-through businesses” that will get the $170 billion in tax breaks. In fact, the only “class warfare” at work here is this unconscionable tax giveaway in the midst of a pandemic that is laying bare the class and economic divides in the United States.
At American for Tax Fairness’s urging, our allies in Congress are introducing legislation this week to repeal this fiasco. Please donate today so we have the financial resources needed to wage this campaign to repeal the $170 billion in tax breaks for millionaires and billionaires and make sure that every dollar of COVID-19 relief goes to those most in need.
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Instead of more bailouts for corporate CEOs and tax handouts to wealthy business owners, we know exactly where the aid is most needed.
Congress must prioritize funding for bigger direct payments to working families, safety net programs like nutrition assistance and Medicaid, aid to prevent evictions or foreclosures, paid sick-leave for all working people, protection for health care and other workers, saving child care centers, and supporting state and local governments on the frontlines of the pandemic.
Pitch in to Americans for Tax Fairness to fight back against Senator Chuck Grassley’s, Mitch McConnell’s and Donald Trump’s tax handouts for the richest 1% and demand Congress prioritize those most in need.
Thank you for fighting for a tax system and an economy that works for everyone, not just the wealthy few.
Frank Clemente
Executive Director
Americans for Tax Fairness
[1] "Sen. Chuck Grassley: Coronavirus-damaged businesses providing over half of US jobs deserve tax break," Fox News, April 17, 2020
[2] Senator Sheldon Whitehouse Press Release, “Whitehouse, Doggett Release New Analysis Showing GOP Tax Provisions In CARES Act Overwhelmingly Benefit Million-Dollar-Plus Earners,” April 14, 2020
[3] “The $1,200 stimulus checks are arriving. People are mostly spending them on food,” The Washington Post, April 14, 2020
