U.S. Sen. Bernie Sanders (I-Vt.) speaks at a rally at St. Mary's Park in the Bronx in New York City on June 22, 2024.
'Not a Good Deal for Working Families': Sanders Votes No on Tax Bill
One campaigner said that "Democrats need to think bigger, aim higher, and hold corporations accountable instead of enabling obscene corporate tax dodging in exchange for breadcrumbs for working families."
Continuing months of progressive opposition to the bipartisan Tax Relief for American Families and Workers Act, U.S. Sen. Bernie Sanders on Thursday voted against advancing the bill and highlighted how it would give tax breaks to major corporations.
The bill passed the House 357-70 in January, shortly after it was negotiated by Senate Finance Committee Chair Ron Wyden (D-Ore.) and House Ways and Means Committee Chair Jason Smith (R-Mo). It would revive a version of the expanded child tax credit (CTC) that, as Sanders (I-Vt.) noted in a statement Thursday, "reduced childhood poverty in America by over 40%."
"I cannot, in good conscience, however, vote for the tax package that is being voted upon today," Sanders, who caucuses with Democrats, explained. "At a time of massive wealth and income inequality, we should not be giving tens of billions of dollars in tax breaks to some of the largest and most profitable corporations in America."
"Incredibly, this legislation would hand out a $2 billion retroactive tax break each to Lockheed Martin and Raytheon—some of the most profitable defense contractors in the world," he pointed out. "Further, at a time when artificial intelligence and automation threatens to displace millions of American workers, this legislation could provide billions of dollars in tax breaks to companies like Amazon, Google, Verizon, and Facebook to replace workers with machines or robots."
As Sanders detailed:
Three years ago, as part of the American Rescue Plan, Congress passed an expanded child tax credit that put $300 a month per child directly into the bank accounts of tens of millions of families. This provision alone lifted nearly 4 million children out of poverty.
The tax bill on the floor today is only one-tenth the size of the child tax credit in the American Rescue Plan and would only last for three years. When all is said and done, this bill would provide at least $3 in corporate tax breaks for every $1 in tax cuts for working families with children. That is not a good deal.
Stephen Prince, vice-chair of the Patriotic Millionaires and founder of Card Market, was similarly critical on Thursday, saying that "this was a bad deal. But remarkably, it was killed by a handful of Republicans who believe they can win even more payouts for their ultra-rich donors next year. Democrats need to think bigger, aim higher, and hold corporations accountable instead of enabling obscene corporate tax dodging in exchange for breadcrumbs for working families."
"As the 2025 tax battle gets underway, we should be on guard for efforts to further enrich corporations and the ultrawealthy via the tax code," Prince warned. "Democrats must grapple with the reality that Republicans and their billionaire donors are not acting in good faith. They must not waste next year's opportunity—the expiration of the 2017 Trump tax scam—by entrenching a broken system. The goal should be a fundamental overhaul of our tax code so that it delivers for American workers."
"Anything less is a failure," he continued. "Republicans continue to sell the snake oil of 'trickle-down' economics to Americans. Let me be clear: At some point, they will have to acknowledge that the only way to fix our economy and our country is to raise taxes on the rich. Their favorite pet project of cutting taxes for rich people is ruining the country and leaving behind a mess for which our children and grandchildren will never forgive us."
The Senate's procedural vote that blocked the Tax Relief for American Families and Workers Act from moving forward mostly fell along party lines. A total of eight senators from both parties—including Sen. JD Vance (R-Ohio), former President Donald Trump's running mate for the November election—did not participate.
Three Republicans—Sens. Josh Hawley (Mo.), Markwayne Mullin (Okla.), and Rick Scott (Fla.)—joined all Democrats present as well as Independent Sens. Angus King (Maine) and Kyrsten Sinema (Ariz.) in supporting the legislation, though Senate Majority Leader Chuck Schumer (D-N.Y.) switched his vote to "no" so he can bring the bill up for a vote again.
Sen. Joe Manchin (I-W.Va.) voted against advancing the bill. The soon-retiring ex-Democrat previously partnered with Republicans to prevent the extension of the CTC expansion enacted during the Covid-19 pandemic. After the aid to families ended, the child poverty rate more than doubled in 2022, according to U.S. Census Bureau data.
Since the bipartisan bill—which is backed by the White House—was announced in January, progressives in Congress have been urging Democrats to "stay at the table and demand a better deal for our children," in the words of Rep. Rashida Tlaib (D-Mich.), who was among nearly two dozen House Democrats who voted against the legislation.
Other House progressives who opposed the bill earlier this year included Democratic Reps. Jamaal Bowman (N.Y.), Cori Bush (Mo.), Greg Casar (Texas), Maxwell Frost (Fla.), Alexandria Ocasio-Cortez (N.Y.), and Mark Pocan (Wis.).
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Continuing months of progressive opposition to the bipartisan Tax Relief for American Families and Workers Act, U.S. Sen. Bernie Sanders on Thursday voted against advancing the bill and highlighted how it would give tax breaks to major corporations.
The bill passed the House 357-70 in January, shortly after it was negotiated by Senate Finance Committee Chair Ron Wyden (D-Ore.) and House Ways and Means Committee Chair Jason Smith (R-Mo). It would revive a version of the expanded child tax credit (CTC) that, as Sanders (I-Vt.) noted in a statement Thursday, "reduced childhood poverty in America by over 40%."
"I cannot, in good conscience, however, vote for the tax package that is being voted upon today," Sanders, who caucuses with Democrats, explained. "At a time of massive wealth and income inequality, we should not be giving tens of billions of dollars in tax breaks to some of the largest and most profitable corporations in America."
"Incredibly, this legislation would hand out a $2 billion retroactive tax break each to Lockheed Martin and Raytheon—some of the most profitable defense contractors in the world," he pointed out. "Further, at a time when artificial intelligence and automation threatens to displace millions of American workers, this legislation could provide billions of dollars in tax breaks to companies like Amazon, Google, Verizon, and Facebook to replace workers with machines or robots."
As Sanders detailed:
Three years ago, as part of the American Rescue Plan, Congress passed an expanded child tax credit that put $300 a month per child directly into the bank accounts of tens of millions of families. This provision alone lifted nearly 4 million children out of poverty.
The tax bill on the floor today is only one-tenth the size of the child tax credit in the American Rescue Plan and would only last for three years. When all is said and done, this bill would provide at least $3 in corporate tax breaks for every $1 in tax cuts for working families with children. That is not a good deal.
Stephen Prince, vice-chair of the Patriotic Millionaires and founder of Card Market, was similarly critical on Thursday, saying that "this was a bad deal. But remarkably, it was killed by a handful of Republicans who believe they can win even more payouts for their ultra-rich donors next year. Democrats need to think bigger, aim higher, and hold corporations accountable instead of enabling obscene corporate tax dodging in exchange for breadcrumbs for working families."
"As the 2025 tax battle gets underway, we should be on guard for efforts to further enrich corporations and the ultrawealthy via the tax code," Prince warned. "Democrats must grapple with the reality that Republicans and their billionaire donors are not acting in good faith. They must not waste next year's opportunity—the expiration of the 2017 Trump tax scam—by entrenching a broken system. The goal should be a fundamental overhaul of our tax code so that it delivers for American workers."
"Anything less is a failure," he continued. "Republicans continue to sell the snake oil of 'trickle-down' economics to Americans. Let me be clear: At some point, they will have to acknowledge that the only way to fix our economy and our country is to raise taxes on the rich. Their favorite pet project of cutting taxes for rich people is ruining the country and leaving behind a mess for which our children and grandchildren will never forgive us."
The Senate's procedural vote that blocked the Tax Relief for American Families and Workers Act from moving forward mostly fell along party lines. A total of eight senators from both parties—including Sen. JD Vance (R-Ohio), former President Donald Trump's running mate for the November election—did not participate.
Three Republicans—Sens. Josh Hawley (Mo.), Markwayne Mullin (Okla.), and Rick Scott (Fla.)—joined all Democrats present as well as Independent Sens. Angus King (Maine) and Kyrsten Sinema (Ariz.) in supporting the legislation, though Senate Majority Leader Chuck Schumer (D-N.Y.) switched his vote to "no" so he can bring the bill up for a vote again.
Sen. Joe Manchin (I-W.Va.) voted against advancing the bill. The soon-retiring ex-Democrat previously partnered with Republicans to prevent the extension of the CTC expansion enacted during the Covid-19 pandemic. After the aid to families ended, the child poverty rate more than doubled in 2022, according to U.S. Census Bureau data.
Since the bipartisan bill—which is backed by the White House—was announced in January, progressives in Congress have been urging Democrats to "stay at the table and demand a better deal for our children," in the words of Rep. Rashida Tlaib (D-Mich.), who was among nearly two dozen House Democrats who voted against the legislation.
Other House progressives who opposed the bill earlier this year included Democratic Reps. Jamaal Bowman (N.Y.), Cori Bush (Mo.), Greg Casar (Texas), Maxwell Frost (Fla.), Alexandria Ocasio-Cortez (N.Y.), and Mark Pocan (Wis.).
- US Child Poverty Rate More Than Doubled in 2022 Thanks to Manchin and GOP ›
- 'A Mockery': House Passes Tax Bill That Favors Corporations Over Children ›
- Expanded Child Tax Credit Would Give Boost to 6 Million Poor Children ›
- To Fight Poverty, Economists Urge Congress to Bring Back Expanded Child Tax Credit ›
- After Expanded Child Tax Credit Slashed Poverty, Letting It Lapse Was Enormous Mistake ›
- Opinion | A Proposed House Tax Break Would Help the Rich at the Expense of the Rest | Common Dreams ›
Continuing months of progressive opposition to the bipartisan Tax Relief for American Families and Workers Act, U.S. Sen. Bernie Sanders on Thursday voted against advancing the bill and highlighted how it would give tax breaks to major corporations.
The bill passed the House 357-70 in January, shortly after it was negotiated by Senate Finance Committee Chair Ron Wyden (D-Ore.) and House Ways and Means Committee Chair Jason Smith (R-Mo). It would revive a version of the expanded child tax credit (CTC) that, as Sanders (I-Vt.) noted in a statement Thursday, "reduced childhood poverty in America by over 40%."
"I cannot, in good conscience, however, vote for the tax package that is being voted upon today," Sanders, who caucuses with Democrats, explained. "At a time of massive wealth and income inequality, we should not be giving tens of billions of dollars in tax breaks to some of the largest and most profitable corporations in America."
"Incredibly, this legislation would hand out a $2 billion retroactive tax break each to Lockheed Martin and Raytheon—some of the most profitable defense contractors in the world," he pointed out. "Further, at a time when artificial intelligence and automation threatens to displace millions of American workers, this legislation could provide billions of dollars in tax breaks to companies like Amazon, Google, Verizon, and Facebook to replace workers with machines or robots."
As Sanders detailed:
Three years ago, as part of the American Rescue Plan, Congress passed an expanded child tax credit that put $300 a month per child directly into the bank accounts of tens of millions of families. This provision alone lifted nearly 4 million children out of poverty.
The tax bill on the floor today is only one-tenth the size of the child tax credit in the American Rescue Plan and would only last for three years. When all is said and done, this bill would provide at least $3 in corporate tax breaks for every $1 in tax cuts for working families with children. That is not a good deal.
Stephen Prince, vice-chair of the Patriotic Millionaires and founder of Card Market, was similarly critical on Thursday, saying that "this was a bad deal. But remarkably, it was killed by a handful of Republicans who believe they can win even more payouts for their ultra-rich donors next year. Democrats need to think bigger, aim higher, and hold corporations accountable instead of enabling obscene corporate tax dodging in exchange for breadcrumbs for working families."
"As the 2025 tax battle gets underway, we should be on guard for efforts to further enrich corporations and the ultrawealthy via the tax code," Prince warned. "Democrats must grapple with the reality that Republicans and their billionaire donors are not acting in good faith. They must not waste next year's opportunity—the expiration of the 2017 Trump tax scam—by entrenching a broken system. The goal should be a fundamental overhaul of our tax code so that it delivers for American workers."
"Anything less is a failure," he continued. "Republicans continue to sell the snake oil of 'trickle-down' economics to Americans. Let me be clear: At some point, they will have to acknowledge that the only way to fix our economy and our country is to raise taxes on the rich. Their favorite pet project of cutting taxes for rich people is ruining the country and leaving behind a mess for which our children and grandchildren will never forgive us."
The Senate's procedural vote that blocked the Tax Relief for American Families and Workers Act from moving forward mostly fell along party lines. A total of eight senators from both parties—including Sen. JD Vance (R-Ohio), former President Donald Trump's running mate for the November election—did not participate.
Three Republicans—Sens. Josh Hawley (Mo.), Markwayne Mullin (Okla.), and Rick Scott (Fla.)—joined all Democrats present as well as Independent Sens. Angus King (Maine) and Kyrsten Sinema (Ariz.) in supporting the legislation, though Senate Majority Leader Chuck Schumer (D-N.Y.) switched his vote to "no" so he can bring the bill up for a vote again.
Sen. Joe Manchin (I-W.Va.) voted against advancing the bill. The soon-retiring ex-Democrat previously partnered with Republicans to prevent the extension of the CTC expansion enacted during the Covid-19 pandemic. After the aid to families ended, the child poverty rate more than doubled in 2022, according to U.S. Census Bureau data.
Since the bipartisan bill—which is backed by the White House—was announced in January, progressives in Congress have been urging Democrats to "stay at the table and demand a better deal for our children," in the words of Rep. Rashida Tlaib (D-Mich.), who was among nearly two dozen House Democrats who voted against the legislation.
Other House progressives who opposed the bill earlier this year included Democratic Reps. Jamaal Bowman (N.Y.), Cori Bush (Mo.), Greg Casar (Texas), Maxwell Frost (Fla.), Alexandria Ocasio-Cortez (N.Y.), and Mark Pocan (Wis.).
- US Child Poverty Rate More Than Doubled in 2022 Thanks to Manchin and GOP ›
- 'A Mockery': House Passes Tax Bill That Favors Corporations Over Children ›
- Expanded Child Tax Credit Would Give Boost to 6 Million Poor Children ›
- To Fight Poverty, Economists Urge Congress to Bring Back Expanded Child Tax Credit ›
- After Expanded Child Tax Credit Slashed Poverty, Letting It Lapse Was Enormous Mistake ›
- Opinion | A Proposed House Tax Break Would Help the Rich at the Expense of the Rest | Common Dreams ›