Tax Policy Center shows Trump’s tax plan will REDUCE economic growth, refuting White House

An updated analysis by the nonpartisan Tax Policy Center concludes that the tax plan being written behind closed doors by Donald Trump and congressional Republican leadership would, in the long term, shrink U.S. economic growth.

This refutes claims made by Trump and administration officials – including a new Council of Economic Advisers report out today – who have promised that their tax proposal would result in American GDP growth of between 3-5%.

“The capstone of Donald Trump’s economic agenda – a backwards tax plan that would overwhelmingly benefit the wealthy and large corporations while raising taxes on millions of middle class families – would in fact reduce U.S. economic growth,” said American Bridge spokesperson Andrew Bates. “Delivering economic gains for American workers and families needs to be the number one focus of any tax legislation, and by that test this proposal fails spectacularly.” 

Key paragraph​s​:

“President Trump and his top aides have argued that the Framework would […]

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BREAKING: Companies not planning to create jobs with Trump’s corporate tax cuts

American Bridge spokesperson Andrew Bates released the following statement after a Reuters report found that U.S. companies are already planning to use the tax cuts in the proposal that Donald Trump and congressional Republicans are writing behind closed doors in order to benefit shareholders instead of create new jobs, as Trump has promised. 

“The tax plan that Donald Trump and Republicans are writing behind closed doors puts the middle class and American workers dead last. Their tax proposal is a giveaway to the wealthiest Americans and large corporations at the expense of everyone else, and now the rug has been pulled-out from underneath the disingenuous arguments being made by the White House.”

Reuters: CEOs suggest Trump tax cut may lift investors more than jobs
Mike Stone

WASHINGTON (Reuters) – U.S. President Donald Trump is selling tax reform to Americans on the promise it will create extra income for companies to invest in […]

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WATCH: White House Inches Closer to Axing 401(k) Tax Benefits For Middle Class Families

American Bridge spokesperson Andrew Bates released the following statement after White House Press Secretary Sarah Huckabee Sanders appeared on Fox News and repeatedly failed to say whether Americans’ 401(k) tax benefits were negotiable or not.

“This is an alarming dodge from the White House on a simple question – is Donald Trump going to break his promise on 401(k) tax benefits that middle class families count on for retirement savings or not? The backwards tax plan that Trump and Republicans are developing behind closed doors would already raise taxes on millions of middle class familieswhile giving 80% of its breaks to the richest 1% of taxpayers.  This is not a game – Donald Trump and Sarah Huckabee Sanders need to come clean if they are planning to ax a key retirement planning tax deduction.”

On October 23, President Trump pledged to the American people that there would be […]

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Senate Republicans and Trump Administration Try To Strip Middle Class Consumers of Key ​Economic ​Protection

American Bridge spokesperson Andrew Bates released the following statement regarding Senate Republican efforts to overturn the Consumer Financial Protection Bureau’s rule prohibiting the use of “forced arbitration,” which has been used to prevent millions of hardworking Americans from accessing their full legal rights after being defrauded:

“Job growth has declined under Donald Trump, premiums are increasing because he’s undermining the ACA, and now Senate Republicans are trying to eliminate a key consumer protection rule that stops Wall Street banks and other financial institutions from denying basic legal rights to victims of fraud. Helping large businesses like Wells Fargo and Equifax avoid responsibility when middle class families are ripped-off is the exact opposite of ‘draining the swamp.’ This is the latest proof that Trump and Republicans are selling-out struggling Americans.”

Wall Street’s top lobbying organization, the banking industry, and payday lenders having been advocating for the Trump Administration […]

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Sanders Questions: ‘Liddle Donnie Edition

Senator Bob Corker really hit the nail on the head this morning when he said of President Trump, “the debasement of our nation is what he’ll be most remembered for.” Is it too little, too late? Probably, especially considering the Republican just a few months ago was singing Trump’s praises as he angled for a job in his Cabinet.  But Corker’s honesty is nonetheless welcome at a time when virtually every other Republican in Washington can’t come to grips with the dangers that Trump presents for the country and the world.

As White House Press Secretary Sarah Huckabee Sanders takes the podium today it is important to remember the role that she, and all others in this White House and Congress, play in enabling this debasement of our country, our values, and our standing in the world.

American Bridge Rapid Response Director Emily Aden calls on Sanders to answer the following questions:

1. […]

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Breaking with Trump, White House legislative director admits that “we need to turn this economy around”

American Bridge spokesperson Andrew Bates released the following statement after White House Legislative Director Marc Short said we need to “turn this economy around,” directly contradicting Trump’s self-congratulatory and dishonest rhetoric about the economy:  

“Even Donald Trump’s top legislative aide doesn’t believe the President’s lies about his economic record. He just slipped and admitted the truth: the Trump economy isn’t working for everyone. Not only is job growth down under Trump, but across the board Trump has pursued an economic agenda that sells out the middle class and American workers to further rig the economy for the rich.

“Rather than investing in job creation and infrastructure, Trump has prioritized taking healthcare from millions of Americans in the name of partisanship and cutting taxes for the wealthy – the opposite of what the American people need.”

White House Legislative Affairs Director March Short on Fox & Friends, 10/17/2017: “We need it […]

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By The Numbers: Trump Is Failing the Economy And Working Families

The economy ending 83 consecutive months of job growth is the latest evidence of the Trump Administration negative impact on the economy.  Even after you ignore the impacts of recent hurricanes, job growth during the first nine months of 2017 is slower than in 2016, 2015, 2014, 2013, 2012, and 2011, according to data from the Bureau of Labor Statistics.

“Donald Trump has derailed 83 straight months of private sector job growth and jog growth is moving at its slowest pace since 2010.  His corrupt administration is hurting economic growth in a way nothing in the past six years had been able to do,” said American Bridge Vice President Shripal Shah. “Trump isn’t working. It’s time for him to stop vacationing on our dime and implement a real plan to create jobs and grow the economy.”

Here is a look at Trump’s time in office by the numbers:

200,744 American workers have […]

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BREAKING: 200,000+ Layoffs Under Trump

Donald Trump’s economy isn’t working. Ever since he took office, American Bridge has tabulated Worker Adjustment and Retraining Notification (WARN) notifications and Trade Adjustment Assistance (TAA) petitions from all fifty states to track layoffs, plant closings, and jobs hurt by foreign trade under the Trump administration, and this week the country hit a disappointing milestone.

Yesterday, the Trump economy crossed the 200,000 layoffs threshold – a reality that discredits empty rhetoric coming from the White House as it relates to the economy and monthly jobs reports, the latest coming tomorrow. The real story of the Trump economy is clear: 200,000 Americans are set to lose their jobs and Donald Trump is doing nothing about it.

American Bridge Vice President Shripal Shah released the following statement: 

“The Trump economy isn’t working; 200,000 Americans have received pink slips since Donald Trump took office, but all he cares about is cutting taxes for himself and his rich […]

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Trump Administration Gutting Consumer Financial Protections Will Hurt Americans Defrauded by Wells Fargo

Today, during the same Senate Banking Committee hearing at which he admitted responsibility for his company’s defrauding of 3.5 million Americans, Wells Fargo CEO Tim Sloan also defended’s the bank use of “forced arbitration,” a mechanism used by big banks and credit card companies to deny customers legal protections as a condition for using services or products.  This comes as Donald Trump, as well as Republicans in Congress, are also working to eliminate a rule implemented by the Consumer Financial Protection Bureau (CFPB) created after the 2008 financial crisis that protects customers from this very practice.  This summer, the Trump Administration argued against CFPB’s rule, saying it “hurt financial institutions by increasing litigation expenses and compliance costs.”

This is just the latest example of the Trump Administration and congressional Republicans siding with corporations, big banks, and Wall Street lobbyists over hardworking Americans who have been victims […]

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Trump Economy Jobs Report: 178,750+ Announced Layoffs

After 225 days as President, Donald Trump still hasn’t come up with a comprehensive plan for creating and protecting good-paying American jobs. Nor has Trump so much as begun to follow through on his campaign promise to begin a large-scale rebuilding of the country’s crumbling infrastructure.

The result: across the country, 178,752 American workers that Trump sold out and left behind have received pink slips since Trump took his oath of office, according to American Bridge’s TrumpEconomy.com project.

“Despite Trump’s promises to rebuild our infrastructure and create good-paying American jobs, his first priority was to take away our healthcare access to cut his own taxes, and now he’s throwing all his weight behind even more big tax cuts for himself, his family, and billionaire CEOs,” said American Bridge Vice President Shripal Shah. “All of that — plus Trump paying his own businesses millions in taxpayer dollars — proves once again that […]

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