Seven Years of Favors for the Wealthy, Next to Nothing for Working Arizonans
PHOENIX — Honest Arizona spokesperson Les Braswell released the following statement on the anniversary of the U.S. House's introduction of the GOP Tax Law in 2017:
“Since its passage, the 2017 GOP Tax Law has been an ongoing giveaway to large corporations and the wealthy that leaves working families behind. The law has fueled record stock buybacks, higher CEO bonuses, and increasing economic inequality. Arizonans deserve a tax code that supports them, not one that continues to exacerbate the gap between those at the very top and working Arizonans.”
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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