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Shareholders Will Be the Real Winners in the GOP’s Corporate Tax Cut – Not Your Paycheck
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Shareholders Will Be the Real Winners in the GOP’s Corporate Tax Cut – Not Your Paycheck

Author Alex Rowell explains why the congressional Republicans' tax bill is a vehicle for permanent corporate tax cuts at the expense of middle- and low-income Americans.

Authors

  • Alex Rowell

On Tuesday, Congressional Republicans rushed through their tax bill—which the House has to revote on—on straight party-line votes in the House and Senate. And despite repeated claims from bill proponents that their bill is focused on middle-class tax relief, the final bill is instead primarily a vehicle for permanent corporate tax cuts.

The bill includes some tax cuts for families, but these cuts are both temporary and tilted toward high-income households. Even in the initial years, millions of families end up paying more. And in the long run, the bill uses reduced spending on health programs and permanent middle-class tax increases to pay for these corporate cuts.

The above excerpt was originally published in Fortune. Click here to view the full article.

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Authors

Alex Rowell

Policy Analyst