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For Immediate Release
January, 30 2018, 09:45am EDT
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:
https://americansfortaxfairness.org/analysis-major-corporations-getting-huge-trump-tax-cuts-not-generous-workers/
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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Senate Report Highlights 'Betrayal of American Seniors' by Trump
"The president has actively harmed the well-being of seniors and broken his promises... to stop inflation, not touch Social Security, and leave Medicaid alone."
Mar 26, 2026
US Sen. Kirsten Gillbrand on Wednesday unveiled a report detailing how President Donald Trump's attacks on Social Security, Medicaid, nutrition assistance, and other programs are harming the very senior citizens whose strong support was so instrumental in his reelection.
The report—which was authored by the minority staff of the United States Senate Special Committee on Aging at the direction of Gillibrand (D-NY), its ranking member—states that Trump "was tasked with leading a nation that is rapidly aging and facing critical decisions about the policies and resources needed to support a sizable demographic change."
"The United States must decide how to ensure the independence of its seniors, how to support caregivers, and how to assist entire aging communities," the publication continues. "After one year in office, President Trump has failed at his obligations to America’s seniors. In fact, the president has actively harmed the well-being of seniors and broken his promises to them—such as his promises to stop inflation, not touch Social Security, and leave Medicaid alone."
Trump has FAILED at his obligations to America’s #seniors. The president has actively broken his promises to stop inflation, not to touch #SocialSecurity, and to "leave #Medicaid alone." READ the minority report of the Senate Committee on Aging HERE::: www.gillibrand.senate.gov/wp-content/u...
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— NCPSSM (@ncpssm.bsky.social) March 26, 2026 at 9:56 AM
Gillibrand said in a statement introducing the report that it "shows that instead of fighting for seniors, the president has attacked the very programs that help them stay afloat."
Republicans' so-called One Big Beautiful Bill Act, which Trump signed into law last July, ushered in the biggest cuts to Medicaid and Supplemental Nutrition Assistance Program in US history.
Gillibrand's report "focuses on eight harms that represent the Trump administration’s failure to support seniors during his first year in office."
According to the publication, Trump:
- Broke his promise to tame inflation and expressed disdain for concerns about the cost of living;
- Used the so-called Department of Government Efficiency to attack the infrastructure supporting Social Security;
- Decimated Medicaid so he could slash taxes for wealthy Americans;
- Repealed key nursing home safety standards after being lobbied by wealthy nursing home executives;
- Disrupted services authorized by the Older Americans Act, including nutrition programs like Meals on Wheels;
- Created new red tape for seniors to access food assistance as another way to fund tax cuts for wealthy Americans;
- Proposed steep cuts for nonprofits that protect people with disabilities and seniors; and
- Attempted to dismantle the agency that guards Americans against financial crimes, including ones that target older adults.
"As a result, American seniors are sicker, poorer, and more vulnerable today than they were just a year ago," Gillbrand said. "This is devastating. I’ll keep fighting for legislation that counteracts the president’s efforts to undermine these programs so that our seniors can age with dignity and respect.”
Other Democratic members of Congress including Sens. Patty Murray (Wash.) and Tammy Duckworth (Ill.) and Reps. Melanie Stansbury (NM) and John Larson (NJ) pointed out how Trump administration policies—including those mentioned in this piece and others like the billion-dollar-per-day war on Iran—are harming seniors by spending money that could have been allocated for their benefit or, in the case of Stansbury, by noting GOP attacks on mail-in voting, upon which many seniors rely.
"Seniors today are having a very hard time getting their benefits.Why?Social Security has pushed out 7,700 workers since Trump took office."
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— Social Security Works (@socialsecurityworks.org) March 26, 2026 at 9:03 AM
"'America first' was bullshit," Duckworth said on Bluesky. "With the $200 billion Trump wants for Iran, we could fund a decade of free, universal preschool; provide seniors with Medicare dental, vision, and hearing coverage for three years; build 2 million+ affordable homes. He promised to end wars."
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Trump Delays Threatened 'Energy Plant Destruction' in Iran Until April 6
The US president faces pressure to fully retract his "deeply irresponsible threats of acts that would unleash catastrophic harm on millions of civilians."
Mar 26, 2026
President Donald Trump on Thursday further delayed any potential US strikes on Iranian power plants to April 6, after nearly a week of critics calling him a "maniacal tyrant" for threatening to commit even more war crimes while attacking Iran with Israel.
"As per Iranian Government request, please let this statement serve to represent that I am pausing the period of Energy Plant destruction by 10 Days to Monday, April 6, 2026, at 8 P.M., Eastern Time. Talks are ongoing and, despite erroneous statements to the contrary by the Fake News Media, and others, they are going very well," Trump wrote on his Truth Social platform.
Trump initially said on the platform last Saturday night that "if Iran doesn't FULLY OPEN, WITHOUT THREAT, the Strait of Hormuz, within 48 HOURS from this exact point in time, the United States of America will hit and obliterate their various POWER PLANTS, STARTING WITH THE BIGGEST ONE FIRST!"
Jan Vande Putte, a senior nuclear and radiation protection expert with Greenpeace International, said in a Monday statement that "bombing civilian electricity infrastructure is illegal under international law. The electricity grid is essential for hospitals, clean water, desalination, and the operation of nuclear facilities. Cutting it off puts millions of lives at risk."
"A blackout could force the Bushehr nuclear facility into depending completely on backup diesel generators, causing a heightened risk of overheating, which can lead to a Fukushima-like disaster," Vande Putte warned, pointing to the 2011 accident in Japan. "If Trump carries through with this reckless threat to knock out critical infrastructure, it could lead to cascading failures, from blackouts to nuclear danger far beyond national borders, with the potential to escalate into a wider regional crisis."
Amid mounting outrage on Monday, Trump instructed the Pentagon to "postpone any and all military strikes against Iranian power plants and energy infrastructure for a five-day period, subject to the success of the ongoing meetings and discussions."
Critics continued to sound the alarm. In a Tuesday statement, Erika Guevara-Rosas, Amnesty International's senior director of research, advocacy, policy, and campaigns, called on Trump to retract his "dangerous" and "deeply irresponsible threats of acts that would unleash catastrophic harm on millions of civilians."
"By threatening such strikes, the USA is effectively indicating its willingness to plunge an entire country into darkness, and to potentially deprive its people of their human rights to life, water, food, healthcare, and adequate standard of living, and to subject them to severe pain and suffering," she warned.
"The decision to not proceed with such attacks must be based on the USA’s obligations under international humanitarian law to avoid civilian harm—not the outcome of political negotiations," the campaigner argued. "Going through with such attacks would cause devastating long-term consequences and severely undermine the international legal framework designed to protect civilians in wartime."
Guevara-Rosas also called on Iran to retract its threats to retaliate by striking power plants used by the US and Israel in Gulf states, as well as end all unlawful attacks on commercial vessels in the Strait of Hormuz and against energy infrastructure and desalination facilities in the region.
"Intentionally attacking civilian infrastructure such as power plants is generally prohibited," she stressed. "Even in the limited cases that they qualify as military targets, a party still cannot attack power plants if this may cause disproportionate harm to civilians. Given that such power plants are essential for meeting the basic needs and livelihoods of tens of millions of civilians, attacking them would be disproportionate and thus unlawful under international humanitarian law, and could amount to a war crime."
As for the Trump administration's negotiations with Iran, the president's special envoy, Steve Witkoff, confirmed Thursday that Pakistani mediators sent the United States' 15-point framework to the Iranian government—which has not fallen over nearly a month of war, despite frequent assassinations.
Citing an Iranian senior political-security official, state-run Press TV reported Wednesday that Iran had rejected Trump's 15-point plan and had a list of five conditions for ending the conflict: a halt to assassinations, concrete mechanisms to ensure that the war is not reimposed, reparations for damages, an end to the war across all fronts and for all resistance groups involved throughout the region, and recognition of Iran sovereignty over the Strait of Hormuz.
As The Associated Press reported Thursday:
Iran's Foreign Minister Abbas Araghchi said in an interview on state TV that his government has not engaged in talks to end the war and does not plan to. He said the US had tried to send messages to Iran through other nations, "but that is not a conversation nor a negotiation."
Egypt is also acting as a go-between, according to Egyptian Foreign Minister Badr Abdelatty, who said Thursday that his country sees a desire from both sides "for calm, for the exploration of negotiations."
Throughout the week, fears of Trump pursuing a ground invasion of Iran have also mounted, intenstifying pressure on congressional Democrats to force another vote on a war powers resolution intended to end the president's unauthorized Operation Epic Fury before the upcoming two-week recess.
"This may be the last opportunity for Congress to slam on the brakes before Trump launches a disastrous ground invasion of Iran," Jamal Abdi, president of the National Iranian American Council, said on social media Thursday evening. "If Democratic leadership fails to force a vote and leaves town for two weeks, they will be complicit in any catastrophic escalation."
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Sanders-Casar Proposal Takes On Billionaires Relocating Sports Teams for Corporate Welfare
"Professional sports teams should be owned and controlled by the fans who love them, not by the multibillionaire oligarchs," Sanders said.
Mar 26, 2026
US Sen. Bernie Sanders and Rep. Greg Casar on Tuesday introduced a bill that would require owners of professional sports franchises who are considering relocating to give the communities in which they are located a chance to buy the teams first.
"The American people are sick and tired of billionaires threatening to move the sports teams they own to different states unless they get hundreds of millions in corporate welfare to build new stadiums,” Sanders (I-Vt.) said in a statement announcing the Home Team Act.
"In my view, professional sports teams should be owned and controlled by the fans who love them, not by the multibillionaire oligarchs who are getting even richer by charging outrageous prices and getting taxpayers to pick up their extravagant costs," he continued.
"You shouldn’t have to be wealthy to take your family to a football game," Sanders added. "You shouldn’t have to fear that a multibillionaire will move your favorite team to a different city if taxpayers refuse to subsidize it. The Home Team Act is a very modest piece of legislation that begins to address this problem. I am proud to support it.”
The Home Team Act is cosponsored by Democratic Sens. Chris Murphy and Richard Blumenthal of Connecticut—which lost the National Hockey League's Hartford Whalers to North Carolina in the 1990s—and five House Democrats.
If passed as written, the bill would:
- Require sports franchise owners to provide notice a year before moving the team to a new community, defined by crossing state lines or moving to a new Metropolitan Statistical Area;
- Give communities a chance to purchase a franchise during that year, including through the sort of successful community ownership model used by the National Football League's (NFL) Green Bay Packers; and
- Penalize noncompliant franchise owners.
“Sports in America should be about more than just making billionaire owners even richer," Casar said Thursday.
"Far too many Americans know the pain of losing a team, and far too many communities have had to fork over billions in subsidies just to keep an already profitable team home," he added. "Our bill is about creating a level playing field so leagues work for fans and taxpayers, not just owners.”
Sanders' office acknowledged that "team relocation has plagued communities across America for decades," from the Brooklyn Dodgers and New York Giants moving respectively to Los Angeles and San Francisco in 1958 to the Oakland Athletics—who previously called Philadelphia and Kansas City home—relocating to Sacramento and, eventually, Las Vegas.
Oaklanders have arguably felt the heartbreak of losing their beloved pro sports franchises more than any other US city, having lost the As, the NFL's Raiders, and the Warriors of the National Basketball Association in a five-year span.
"Currently, the Chicago Bears are threatening to leave the city after more than 100 years in response to the state of Indiana offering massive subsidies," Sanders' office said of the storied NFL franchise known for its passionately loyal fan base. "The bill would prevent the Bears from being moved across state lines without being offered for sale."
In his youth, Sanders—who grew up during a time when Jewish players dominated racially segregated professional basketball—was known for his killer mid-range jump shot. As a senator, he has championed professional athletes, especially baseball players, during their collective bargaining struggles against oligarch owners.
Sanders still holds a grudge against the former owner of the beloved Brooklyn Dodgers of his youth who relocated the team to Los Angeles in 1958, when he was a teenager. In 2018, he posted an old Brooklyn adage that "the three worst people in modern history were Adolf Hitler, Joseph Stalin, and Dodgers owner Walter O'Malley—but not necessarily in that order."
Serving in the House of Representatives at the time, Sanders even had a bit part in the 1999 comedy “My X-Girlfriend’s Wedding Reception," in which he played Manny Shevitz, a rabbi who argues that the Dodgers leaving Brooklyn was the "worst thing that ever happened."
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