Trump tax takes from workers, gives to wealthy
Posted May 04, 2018 in Press Releases
President Donald Trump returns to Cleveland Saturday to tout his tax law. Policy Matters Ohio’s Executive Director Amy Hanauer issued the following statement about the tax plan:
“The Trump tax plan showers rewards on the wealthiest and corporate interests, while short-changing most Ohioans. Our research finds that the promised cuts primarily benefit Ohioans who already make over $1 million a year. Those wealthy earners will take home an extra $40,000 this year, while middle-class workers get just $800.
“These enormous cuts leave the public sector starved for resources. The administration and Republicans in Congress will pay for these giveaways by slashing college aid, cutting health care, and taking food away from hungry families.
“The tax plan drives the U.S. nearly $2 trillion further into debt over the next 10 years. That’s $2 trillion that could instead support schools, rebuild our roads and bridges, and invest in an economy that works for all Americans and all Ohioans.”