For Immediate Release

Organization Profile: 
Contact: 

Sam Quigley, sam@patrioticmillionaires.org, 202-446-0489

Patriotic Millionaire Blast House GOP on Tax Cuts 2.0 Framework

"The first round of tax cuts was overwhelmingly skewed towards rewarding wealthy GOP donors rather than helping the middle class, and this second pass will be just as bad."

WASHINGTON - This afternoon, in response to the release of the House GOP framework for their attempt at tax reform 2.0, the Chair of the Patriotic Millionaires and former Blackrock managing director Morris Pearl issue the following statement:

"The new line from Republicans in Congress is that Americans are 'better off' because of last year's tax cut, so we have to extend it. Well, some Americans are better off - people like me who are wealthy enough to not need work - but most Americans are still struggling. The first round of tax cuts was overwhelmingly skewed towards rewarding wealthy GOP donors rather than helping the middle class, and this second pass will be just as bad. The Tax Cuts and Jobs Act led to more money being funneled into the bank accounts of the ultra-rich while worker wages actually dropped, and there's no reason for us to expect anything else from Tax 'Reform' 2.0. The framework says it expects GDP to increase by 2.2%, yet they only project wages to increase by 0.9% - even in their absolute most optimistic framing, they still admit that less than half the benefits of their bill will go to workers."

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