John,
As CBS News prepares to host presumably the only debate between Vice Presidential nominees Tim Walz and J.D. Vance tonight, we face a pivotal moment in our battle for tax fairness.
Vice President Harris and Governor Walz’s tax plan includes a 25% minimum tax on billionaires, which would raise over $500 billion in a decade.[1] They have proposed boosting the corporate tax rate to 28%, generating $1.35 trillion to invest in American families.[2] And they're pushing to increase capital gains taxes on the rich and quadruple the stock buyback tax, forcing Wall Street to contribute more to our shared prosperity.
Meanwhile, Trump and Vance are championing the "Project 2025" roadmap. This plan would provide $24 billion in tax cuts to the 100 largest U.S. corporations while raising taxes on middle-class families.[3] Big Oil would pocket $1.3 billion and Big Pharma would get a $1.6 billion windfall. Even Wall Street banks would cash in with $2.1 billion in tax cuts.
We need your voice to ensure tax policy gets the attention it deserves. Tell CBS News debate moderators Norah O'Donnell and Margaret Brennan to ask Walz and Vance about tax policy.
Vance and his Republican allies are pushing to make the 2017 Trump tax cuts permanent―a move that could add a staggering $5 trillion to the national debt.[4]
That ocean of red ink would undoubtedly be used as an excuse to slash vital programs like Social Security and Medicare that millions of Americans rely on.
Voters deserve to hear details about the Walz and Vance plans to reshape our tax system.
It’s clear that a robust debate on tax policy is essential to our democracy and that means CBS News has a responsibility to the American people to dig deep into these issues. O'Donnell and Brennan must make sure both candidates explain how their tax plans would impact working families, small businesses, and our national debt.
Make your voice heard. Demand that CBS News prioritize tax policy questions in tonight’s debate between Walz and Vance.
Thank you for taking action,
David Kass
Executive Director
Americans for Tax Fairness Action Fund
1] The Billionaire Minimum Income Tax
[2] Latest Biden Budget, Like All The Others Of His Presidency, Taxes The Rich And Corporations To Lower Costs & Improve Services For Working Families
[3] Project 2025’s Tax Plan Would Raise Taxes on the Middle Class and Cut Taxes for the Wealthy
[4] Trump plans would add $5.8 trillion to national debt
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