Trump tax plan: Corporations win, Ohio families lose
Posted March 09, 2018 in Press Releases
As Vice President Mike Pence joins U.S. Rep. Jim Renacci in Cleveland to promote the Trump tax cuts, Policy Matters Ohio Executive Director Amy Hanauer issued the following statement:
“Powerful corporations are using the Trump tax cuts passed last year to line their shareholders’ pockets. Since January, the nation’s largest companies have authorized more than $200 billion to buy back shares of their stock. These giveaways to corporations are giving us a national deficit that’s at least $1.4 trillion higher. Trump now plans to pay for tax cuts to corporate America by cutting programs that expand opportunity, increase equality, and lift Ohioans out of poverty. Trump’s budget proposal slashes food aid by more than $213 billion over the next 10 years, hurting more than 1 million hungry Ohio children and adults. It cuts Affordable Care Act coverage and slashes Medicaid, which covers 3 million Ohioans, including nearly a million children. Trump would slash funding for Housing and Urban Development (HUD) by $6.8 billion or 14 percent next year, threatening to leave out in the cold nearly 84,000 Ohio households with kids. He wants to freeze funding for Pell Grants and slash student loans by more than $200 billion over the next decade, forcing hundreds of thousands of Ohio working class students to go deeper into debt. Vice President Pence hopes to sell these backward policies to Ohio, but we’re not buying it. Ohioans want kids from Cleveland to be able to go to college. We want first graders in Toledo to go home to a healthy dinner. We want teenagers in Marietta to be able to go to the doctor. Trump’s budget takes food, housing aid, tuition assistance and health care from Ohio, so his friends in corporate America can reap even larger profits. It does not reflect the priorities of Ohio families.”
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