John,

The $2.2 trillion CARES Act was supposed to offer much needed support to those suffering most from the pandemic. But hidden in the bill was an obscure $135 billion tax break for the richest 1%, slipped in by Mitch McConnell and Senate Republicans. It gives 43,000 millionaires an average $1.6M tax break apiece in 2020.[1]  

Everyone else only gets up to $1,200 in one-time rebate checks.

Most of the hidden $135 billion will go to owners of real estate firms (like Donald Trump and Jared Kushner), hedge funds and private equity.

Now, as Congress drafts a new pandemic aid bill, it’s critical that we repeal the $135 billion giveaway to the richest 1% and put that aid where the need is greatest―protecting public health; providing funding that helps keep workers employed and gives more direct aid to families; and supporting our states and municipalities that are on the frontlines of this pandemic.

Americans for Tax Fairness Action Fund is leading a national campaign made up of advocacy groups and elected officials to repeal this egregious #MillionairesGiveaway. And our leaders in Congress have introduced bills cosponsored by six former 2020 presidential candidates in the Senate, every member of “The Squad,” and progressives and moderates in the House and Senate alike. Now, we need your support.

SIGN NOW! Will you become a grassroots co-signer of H.R. 6579 and S. 3640―legislation that repeals the $135 billion tax giveaway to the richest 1% and demands that those resources be used for individuals, families and communities most in need during the pandemic.

With over 30 million Americans filing for unemployment in just the past six weeks and millions losing their health insurance benefits, this economic downturn will impact our families and communities for years to come. We need a response that is proportional to the size of the crisis.

That means putting additional aid toward proven economic drivers such as direct payments to families, enhanced SNAP food benefits, programs to defend against homelessness and poverty, and direct aid to Medicaid, states and communities.

At a time when families are struggling to put food on the table and a roof over their heads, it’s unconscionable that Mitch McConnell and Senate Republicans would hand $135 billion in tax giveaways to the richest 1%.

FIGHT BACK! Join Americans for Tax Fairness Action Fund and our allies in demanding Congress repeal the $135 billion tax break for real estate firms, hedge funds and private equity―and instead direct that aid where the need is greatest.

Thank you,

Frank Clemente
Executive Director
Americans for Tax Fairness Action Fund

[1] Americans for Tax Fairness, “Pressure Builds to Repeal $135 Billion Millionaires Giveaway in the CARES Act,: April 29, 2020