But six months after passage of Tax Scam Round 1, here is what we know:
- 83% of the tax cuts are still going to the richest 1%.
- Just 4% of workers have gotten a pay hike due to the tax cuts—a one-time bonus or wage hike.
- The cost of the tax cuts has ballooned from $1.5 trillion to $1.9 trillion, emboldening GOP lawmakers to demand even more cuts to Medicare, Medicaid, Social Security, education and more.
- Trump proposed a budget that would cut funding for these critical services by $1.7 trillion to pay for his tax scam.
- Prescription drug companies, health insurers, Wall Street banks and other major industries are getting huge tax breaks and not sharing the wealth with consumers or their employees.
Despite these outrageous results -- ripping off the American people -- Donald Trump and Congressional Republicans are planning to double down before the November Election. They want to pass a Tax Scam Round 2 that could cost another $1 trillion and would mostly benefit the wealthy at the expense of working families, seniors, people with disabilities and hungry children.
Tax Scam Round 2 is just another giveaway to Republican donors, wealthy business owners and real estate developers like Donald Trump who game the system at our expense.