As President Trump and Congressional Republicans push for handouts that prioritize the ultra-wealthy and big corporations, they’re cutting funding for working families
MADISON, Wis. – As some of the largest corporations prepare to shell out as much as $8 million for a single 30-second television ad this weekend, President Trump and Republicans in Congress are continuing to push for trillions in new tax breaks that will help these successful corporations and the ultra-rich pay even less.
First signed in 2017, the Trump Tax Law has disproportionately benefited those at the top, instead of providing relief to working families and small businesses who need it. Under the law, the top 1 percent of income earners received an average tax break of over$61,000 a year, while an average Wisconsin household received just $910 in savings per year. Meanwhile, large corporations have used the law to avoid paying their fair share in taxes, withmany paying nothing at all in federal taxes.
Even some corporations set to spend big on TV ads this Sunday have paid extremely low federal taxes as the result of the current law:
Salesforce is set to air multiple spots during the big game. According to an analysis from the Institute on Taxation and Economic Policy (ITEP), the company paid a tax rate of just 2.9% during the first five years of the current tax plan.
Ads for Coors Light will also hit screens this Sunday. Parent company Molson Coors also used the current tax plan to pay just 4.8% in taxes over a five-year period according to ITEP.
And if you happen to tune in through Dish Network this weekend, the study found that Dish Network paid nearly nothing in federal taxes during the same five-year period, with a rate of just 0.7%.
Now, Republicans in Congress are working to give even more tax breaks to those at the top – and they’re targeting critical programs that working-class Wisconsinites rely on to pay for them. In recent weeks, Republicans have floatedcuts to Medicaid,nutrition assistance and healthcare programs, and have even pushed toend federal grant and loan programsthat support programs like Head Start and more.
President Trump and Republicans are also pushing tariffs as high as 25% on key trading partners, which could soon increase costs on groceries, gas, and other everyday items that working families need.
“While Chiefs and Eagles fans support their teams this weekend, Republicans in Congress are cheering for the ultra-rich and corporate special interests by working to give them even more tax breaks,”said Opportunity Wisconsin Program Director Meghan Roh.“Meanwhile, Wisconsin families are being left on the sidelines as Congress pushes for cuts to key programs, including Medicaid and SNAP, and threatens to increase tariffs that drive costs of groceries and gas even higher—all to pay for more tax handouts for billionaires and corporations. It’s time for Wisconsin’s members of Congress to oppose this tax plan, stop cuts to successful programs, and send relief to the working families who need it.”