January, 30 2018, 09:45am EDT
For Immediate Release
Contact:
Chris Fleming,Email:,chris@redhorsestrategies.com
New Report: Corporations Not Being So Generous With Tax Cuts After All
ATF examined tax cuts, bonuses and other employee benefits from Fortune 500 and other big-name corporations since passage of Trump tax cuts.
WASHINGTON
Widespread publicity about corporations sharing a big slice of their huge Trump tax cuts with their workers through bonuses and wage hikes is mostly hype, an Americans for Tax Fairness analysis of the numbers reveals. Even though America's biggest corporations are poised to reap hundreds of billions of dollars in tax cuts, only 18 corporations in the Fortune 100 have announced any sort of employee benefits tied to those cuts, as of today. Only 46 of the Fortune 500--just 9%--have announced any plans to share the tax-cut wealth.
These counts come from the list of corporations sharing tax-cut benefits that's being maintained by Americans for Tax Reform (ATR) that ATF analyzed here. ATR is a principal backer of the GOP's tax giveaway to Corporate America that presumably has compiled as much good news about the tax cuts as it can find.
Thirteen of the Fortune 100 corporations on the ATR list are there because they plan to offer one-time bonuses to employees--a far cry from the permanently higher wages promoters of the GOP plan claimed would flow from massive corporate tax cuts. Only 6 Fortune 100 corporations are offering wage increases. Twenty-nine of the Fortune 500 are on the ATR list for offering one-time bonuses and 17 are offering pay increases.
Not only are few big corporations sharing any portion of their tax-cut bounty, but the amounts going to workers pale when compared to how much the companies are getting in tax cuts and to how much they're returning to shareholders through stock buybacks and dividends (where those figures are available).
"The idea that tax cuts for corporations and millionaires will trickle down to workers has been debunked over and over," said Frank Clemente, executive director of Americans for Tax Fairness. "Even many CEOs have acknowledged that the benefits will flow to shareholders, not to employees. Corporations should be honest with the public about where their fat tax cuts are going instead of doing Donald Trump's dirty work with marketing spin."
Highlights of ATF's findings from the report are below. The complete report that profiles the response of 42 corporations to the Trump tax cut is available here:
Findings of Fortune 100 corporations:
- Only 18 (18%) of them appear on the ATR list for having given some benefit to employees due to their tax cuts.
- Only 13 (13%) of them are on the list for one-time bonuses and just 6 (6%) are on the list for wage increases.
- Nine (9%) are on the list for other types of benefits being provided to employees.
Findings of Fortune 500 corporations:
- Only 46 (9%) of them appear on the ATR list for having given some benefit to employees, customers, or charitable organizations due to their tax cuts.
- Only 29 (5.8%) of them are on the ATR list for one-time bonuses and just 17 (3.4%) are on the list for wage increases.
- 26 (5.2%) are on the ATR list for other types of benefits being provided to employees or for charitable contributions or consumer benefits, such as lower electricity rates.
$100 billion in stock buybacks: 20 corporations have announced new stock buybacks since the Senate tax bill was passed in early December, which total $100 billion. Stock buybacks put money in the pockets of already wealthy shareholders and divert precious resources from making new investments or raising workers' pay.
27,000 jobs cut: This is the number of jobs being cut in 2018 by eight of the 42 corporations profiled by ATF.
The 82 blue chip corporations in the Fortune 100 (and the 454 in the Fortune 500) that have not yet announced they will share the benefits of the tax cuts with their employees is available here.
Americans for Tax Fairness (ATF) is a diverse campaign of more than 420 national, state and local endorsing organizations united in support of a fair tax system that works for all Americans. It has come together based on the belief that the country needs comprehensive, progressive tax reform that results in greater revenue to meet our growing needs. This requires big corporations and the wealthy to pay their fair share in taxes, not to live by their own set of rules.
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Watchdog Urges FEC to Investigate Trump Campaign Over Scheme for Legal Fees
"By not disclosing the vendors that actually provided legal services, the Trump-affiliated committees effectively blocked the public from knowing which attorneys and firms are being paid—and how much."
Apr 24, 2024
A campaign finance watchdog on Wednesday filed a Federal Election Commission complaint accusing former President Donald Trump's 2024 campaign, affiliated political groups, and an accounting firm of violating U.S. law in a scheme "seemingly designed to obscure the true recipients of a noteworthy portion of Trump's legal bills."
The Washington, D.C.-based Campaign Legal Center (CLC) said that "evidence appears to show an illegal arrangement between several Trump-affiliated committees and a compliance firm named Red Curve Solutions that is designed to obscure the identities of those providing legal services and how much they are being paid."
"Voters have a right to know how the presidential campaigns and other committees supporting presidential candidates spend their money."
CLC alleges that the Trump campaign, Trump's political action committee (PAC) Save America, and three affiliated organizations "violated federal reporting requirements based on a scheme in which the committees reportedly paid over $7.2 million—described as 'reimbursement for legal' costs or expenses"—to Red Curve.
The watchdog also said that Red Curve appears to be "making or facilitating illegal contributions that violate either federal contribution limits or the prohibition on corporate contributions."
According to CLC:
Red Curve is a domestic limited liability company that offers compliance and FEC reporting services but does not appear to offer any legal services. It is managed by Bradley Crate, who also serves as the treasurer for each of the five Trump-affiliated committees concerned in this complaint, as well as over 200 other federal committees.
According to filings with the FEC, Red Curve appears to have been fronting legal costs for Trump since at least December 2022, with Trump-affiliated committees repaying the company later. This arrangement appears to violate FEC rules that require campaigns to disclose not only the entity being reimbursed (here, Red Curve) but also the underlying vendor. By not disclosing the vendors that actually provided legal services, the Trump-affiliated committees effectively blocked the public from knowing which attorneys and firms are being paid—and how much they are being paid—through this arrangement.
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"The steps taken by the Trump campaign, its affiliated committees, and Red Curve Solutions concealed information about how campaign funds were used to pay former President Trump's legal expenditures, including the amounts and ultimate recipients of these expenditures—and the FEC must investigate immediately," Chlopak added.
Trump—who is the presumptive 2024 GOP presidential nominee—faces 91 federal and state felony charges related to his role in the January 6 insurrection and his organization's business practices. He is currently on trial in New York for allegedly falsifying business records related to hush money payments to cover up sex scandals during the 2016 election cycle. The twice-impeached former president has been open about his use of campaign donations to pay his legal costs.
The new CLC filing comes a day after the watchdog filed separate FEC complaints urging investigations into a pair of Trump-affiliated "scam PACs," which "pretend to fundraise for major candidates or issues while secretly diverting almost all of their donors' money back into fundraising or the fraudsters' own pockets."
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Three Republicans in the Arizona House of Representatives on Wednesday joined with Democrats to advance legislation that would repeal an 1864 ban on abortion—a development rights advocates welcomed while stressing that the fight is far from over.
The 32-28 vote on House Bill 2677—with GOP Reps. Tim Dunn (25), Matt Gress (4), and Justin Wilmeth (2) voting in favor—was the third attempt in as many weeks to pass repeal legislation since the Arizona Supreme Court upheld the ban.
"The state Senate could vote on the repeal as early as next Wednesday, after the bill comes on the floor for a 'third reading,' as is required under chamber rules," according toNBC News. Democratic Gov. Katie Hobbs on Wednesday toldThe Washington Post that "I am hopeful the Senate does the right thing and sends it to my desk so I can sign it."
Applauding the House passage of H.B. 2677, Planned Parenthood Advocates of Arizona president and CEO Angela Florez said that "today, Arizona is one step closer to repealing the state's Civil War-era total abortion ban. While the repeal still must pass the Senate, this is a major win for reproductive freedom."
"We must celebrate today's vote in support of abortion rights and harness our enthusiasm to spread the word and urge lawmakers in the Senate to support this necessary repeal bill," she continued. "Despite this step forward, Arizonans cannot stop fighting."
Florez noted that "even with the repeal of the Civil War-era ban, the state will still have a ban on abortion after 15 weeks of pregnancy that denies people access to critical care. And lawmakers continue to attack Arizonans' ability to access reproductive healthcare. Our right to control our bodies and lives is hanging on by a thread."
"Thankfully, voters will have the opportunity to take back control if the Arizona Abortion Access Act is on the ballot this November," she added. "Abortion bans are out-of-step with the will of Arizonans and will force pregnant people to leave their communities for essential healthcare. Planned Parenthood Advocates of Arizona will continue fighting to ensure everyone has the right to make decisions about their health and futures."
The Arizona Abortion Access Act is a proposed state constitutional amendment that would prevent many limits on abortions before fetal viability and safeguard access to care after viability to protect the life or physical or mental health of the patient.
The coalition supporting the amendment, Arizona for Abortion Access, highlighted on social media that the House-approved bill "did not include the emergency clause required to stop the 1864 ban from taking effect on June 8," meaning H.B. 2677 wouldn't apply until 90 days after the end of the legislative session.
Coalition campaign manager Cheryl Bruce said that "with a total ban still set to take effect June 8, the Arizona Abortion Access Act is needed now more than ever. We remain committed to taking these decisions out of the hands of extremist politicians."
Arizona is one of multiple states where rights advocates are promoting abortion rights ballot measures this cycle. Reproductive freedom is also dominating political races at all levels, including the presidential contest. Democratic President Joe Biden is set to face former Republican President Donald Trump in November.
"Donald Trump is responsible for Arizona's abortion ban. Women in the state are still living under a ban with no exceptions for rape or incest and have been stripped of the freedom to make their own healthcare decisions," said Julie Chávez Rodriguez, Biden and Vice President Kamala Harris' reelection campaign manager.
While the presumptive GOP nominee has tried to distance himself from the Arizona Supreme Court's reinstatement of a 160-year-old abortion ban, he has also campaigned on his three appointees to the U.S. Supreme Court who helped reverse Roe v. Wade.
"Trump brags that he is 'proudly' the person responsible for these bans and if he retakes power, the chaos and cruelty he has created will only get worse in all 50 states," Chávez Rodriguez said. "President Biden and Vice President Harris are the only candidates who will stop him."
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US Dodges Growing Calls for Probe of Mass Graves at Gaza Hospitals
"Somehow I don't think the U.S. State Department would defer to Russia as a credible source to investigate itself if a mass grave were discovered in Ukrainian territory it had occupied," said one legal expert.
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While continuing to give Israel billions of dollars in support to wage war on the Gaza Strip, the Biden administration this week has declined to join the growing global demands for an international probe into mass graves discovered at hospitals in the besieged Palestinian enclave.
Two journalists on Tuesday questioned Vedant Patel, a spokesperson for the U.S. State Department, about the administration's response to the hundreds of bodies found at Gaza City's al-Shifa Hospital and Nasser Hospital in Khan Younis as well as United Nations High Commissioner for Human Rights Volker Türk's call for an independent investigation.
"Would you support such an independent investigation?" Said Arikat asked during a press briefing. Patel responded, "Right now, Said, we are asking for more information... That is squarely where we are leaving the conversation."
Patel added that "I don't have any details to match, confirm, or offer as it relates to that. We're aware of those reports, and we have asked the government of Israel for additional clarity and information. And that's where I'm at."
When Said asked a follow-up about potential U.S. support for a probe, Patel reiterated that the administration is awaiting information from the Israeli government.
Later, Niall Stanage asked Patel to explain U.S. "resistance" to supporting a probe, the spokesperson insisted that "it's not about resistance to this particular situation, it is me not wanting to speak in detail about something which Said posed as a hypothetical question when, from the United States' perspective, I don't have any additional information on this aside from the public reporting."
After Patel again stressed that the administration has asked Israel for more information, Stanage inquired, "And do you believe the government of Israel is a credible source in enlightening you?"
The spokesperson interrupted Stanage to say, "We do."
While supporting the six-month Israeli assault on Gaza that the International Court of Justice has found to be plausibly genocidal, the Biden administration is also arming Ukrainians' resistance to a Russian invasion. Brian Finucane, a senior adviser for the Crisis Group's U.S. program and a former legal adviser at the State Department, pointed to the latter.
"Somehow I don't think the U.S. State Department would defer to Russia as a credible source to investigate itself if a mass grave were discovered in Ukrainian territory it had occupied," Finucane said on social media in response to Stanage's questioning.
Meanwhile, European Union spokesperson Peter Stano made clear Tuesday that the E.U. supports an independent probe.
"This is something that forces us to call for an independent investigation of all the suspicions and all the circumstances, because indeed it creates the impression that there might have been violations of international human rights committed," Stano said. "That's why it's important to have independent investigation and to ensure accountability."
Human rights groups around the world joined the call for an independent investigation on Wednesday, as the official death toll in Gaza hit 34,262 with 77,229 people injured and thousands more missing and presumed dead beneath the rubble.
In an Arabic statement translated by Al Jazeera, the Euro-Mediterranean Human Rights Monitor said that the number of bodies found in the mass graves is "alarming, and requires urgent international action, including the formation of an independent international investigation committee."
The group added that some of those killed were subjected to "premeditated murder as well as arbitrary and extrajudicial executions while they were detained and handcuffed."
Amnesty International senior director of research, advocacy, policy, and campaigns Erika Guevara Rosas said in a statement that "the harrowing discovery of these mass graves underscores the urgency of ensuring immediate access for human rights investigators, including forensic experts, to the occupied Gaza Strip to ensure that evidence is preserved and to carry out independent and transparent investigations with the aim of guaranteeing accountability for any violations of international law."
"Lack of access for human rights investigators to Gaza has hampered effective investigations into the full scale of the human rights violations and crimes under international law committed over the past six months, allowing for the documentation of just a tiny fraction of these abuses," she noted. "Without proper investigations to determine how these deaths took place or what violations may have been committed, we may never find out the truth of the horrors behind these mass graves."
Guevara Rosas continued:
Mass grave sites are potential crime scenes offering vital and time-sensitive forensic evidence; they must be protected until professional forensic experts with the necessary skills and resources can safely carry out adequate exhumations and accurate identification of remains.
The absence of forensic experts and the decimation of Gaza's medical sector as a result of the war and Israel's cruel blockade, along with the lack of availability of the necessary resources for the identification of bodies such as DNA testing, are huge obstacles to the identifications of remains. This denies those killed the opportunity to have a dignified burial and deprives families with relatives missing or forcibly disappeared the right to know and to justice—leaving them in a limbo of uncertainty and anguish.
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"Third states must pressure Israel to comply with the ICJ orders by allowing the immediate entry into the Gaza Strip of independent human rights investigators and forensic experts, including the U.N.-appointed Commission of Inquiry and investigators of the International Criminal Court," she added. "There can be no truth and justice without proper, transparent independent investigations into these deaths."
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