ICYMI: GOP Tax Law Benefits Wealthy Over Working Arizona Families
PHOENIX — As President Trump and congressional Republicans work to extend tax breaks for the ultra-wealthy and corporations, first enacted under the 2017 Tax Law, Honest Arizona is working to ensure that Arizonans understand how the law benefits those at the top while doing next to nothing for everyone else.
According to Public News Service:
Andrea Moreno, executive director of Honest Arizona, said it comes at too high a price. She contends big corporations and the wealthy do not pay their fair share, which is why her organization is educating voters about the tax code's consequences.
Moreno stressed Trump's tax code would affect funding for such priorities as public education, access to health care and other safety net programs in Arizona and across the country.
‘Cutting assistance like SNAP and WIC – and as a mother, that is something that means a lot to me – that would be detrimental for mothers and children as well,’ Moreno pointed out. ‘The ACA is another one, and making changes to Medicaid, which would definitely impact a lot of seniors.’
How the GOP Tax Law has benefited the wealthy over working Arizonans:
The richest 1 percent of Arizonans got 29 percent of the tax cuts from the law, while the poorest 20 percent of Arizonans got just 1 percent.
The law slashed the corporate tax rate from 35 percent to 21 percent – with many companies paying significantly less than that.
Arizona billionaires have grown $25 billion richer since the passage of the GOP Tax Law.
Arizonans can find out more about the GOP Tax Law HERE.
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