WASHINGTON, D.C. – Today, the House passed sweeping tax cuts that benefit the ultra-wealthy, sending the bill to President Trump for signing. The bill will add $3.4 trillion to the national debt and stifle economic growth for years to come, while giving the top .01% richest Americans over $390,000 each.
In response to House passage, Tax the Greedy Billionaires Campaign Director Igor Volsky issued the following statement:
“Today the House delivered exactly the return on investment America’s billionaires wanted: a massive tax giveaway to further enrich an elite cohort of the wealthiest Americans, entrenching their outsized power to bend the system to their will. This bill’s passage comes at the expense of working families, national economic growth, our democracy, and the climate.
Americans, regardless of party, are fed up with a tax system that props up billionaire’s economic and political power. For months, we have seen a growing movement to end billionaire rule by taxing extreme wealth. Breaking up this unprecedented wealth concentration is key to restoring our democracy, lowering costs, and giving working families a real shot at the American dream.”
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