Issues: Taxes

Statement: Trump threatens more Obamacare sabotage unless Republican tax bill takes coverage from millions as it raises taxes on middle class families

American Bridge spokesperson Andrew Bates issued the following statement after it was reported that Donald Trump is preparing an executive order to cripple the Affordable Care Act’s individual mandate, and which would be used if congressional Republicans do not repeal the mandate in their tax reform plan.

​”Raising taxes on millions of middle class families, and at the same time taking health coverage from 28 million people, in order to pay for new tax cuts for the wealthiest Americans and large corporations is dead wrong as an economic policy, and would be a catastrophic one-two punch for working people. Trump’s partisan sabotage of health insurance markets is already making healthcare costs skyrocket, and at the same time he’s trying sell them out even more by rigging the tax code for millionaires.”

The Trump Administration’s own Department of Health & Human Services has confirmed that premiums on the […]

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Trump To Sign Pro-Wall Street, Anti-Consumer And Veteran Bill Behind Closed Doors

This afternoon – without press access and behind closed doors – Donald Trump will sign legislation dismantling the Consumer Financial Protection Bureau’s rule against forced arbitration – a practice used by Wall Street banks, credit card companies, and predatory lenders to deny Americans their full legal rights when they are victims of fraud on the part of those companies.

American Bridge spokesperson Andrew Bates responded to Trump’s signing of the bill with the following statement:

“Donald Trump is selling-out middle class families, working Americans, and veterans by signing this dangerous legislation – a key Wall Street lobbying priority – which lets banks and credit card companies evade legal accountability after defrauding their customers. And he’s doing it behind closed doors, hoping that no one will notice. Giving large, financial sector companies the ability to deprive American consumers of fundamental legal rights using fine print is the exact opposite of ‘draining the swamp’ – and it’s […]

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Editorial Roundup: Release All The Records Edition!

Last week, while Congressional Republicans sided with banks and credit companies over their own constituents, and San Juan Mayor Cruz fought with Whitefish Energy, Donald Trump reiterated his support for Ed Gillespie, reversed his stance multiple times on 401(k)s, and tried to obstruct a teenager from obtaining an abortion.

 

Editorial boards across the country criticized Trump for his ACA sabotage, Trump’s Opioid epidemic response, echoed the criticisms of former Presidents and Republican Senators, and more. Here’s what Americans read this week in their local newspapers:

 

10/20

 

Burlington Free Press: For The President, It’s Donald Trump First

 

The real danger of Trump’s performance in office is that Americans become so numb to the president’s outrageous behavior that they are unable to recognize the erosion of democracy taking place in plain sight.

 

The president sucks the air out of the news cycle with erratic tweets, sudden position reversals and […]

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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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As Trump’s Tax Plan Threatens 401k Benefits, New Poll Shows GOP Tax Scheme Is Already Unpopular With Americans

A new AP-NORC poll shows the majority of Americans believe the tax plan Trump and Congressional Republicans are writing behind closed doors would help corporations and the wealthiest taxpayers over the middle class. The poll was released at the same time that House Ways & Means Chairman Kevin Brady, the top Republican in the House for tax policy, indicated the 401k tax benefits millions of middle class Americans count on may be jeopardized by Trump’s tax plan.

“Just like with the failed Trumpcare bills that would have cost millions their insurance, the American people are seeing through Trump’s lies about the Republican tax plan,” said American Bridge spokesperson Andrew Bates. “Trump’s proposal would sell-out middle class families and American workers as part of the real ‘lovefest’ that’s been going on since Donald Trump took office – between Republicans, their donors, and corporations.”

SHOT:

Washington Post, 10/25/2017: “House Ways and Means Committee Chairman Kevin […]

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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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Republicans vote with Trump to cut taxes for the rich, slash Medicare 

American Bridge Vice President Shripal Shah released the following statement in reaction to Senate Republicans passing a budget resolution paving the way for Trump’s tax plan:  

“This vote tells you everything you need to know about the appalling priorities of Donald Trump and the Republicans rubber-stamping his anti-middle class agenda: 80% of these tax cuts would got to the wealthiest 1% of earners while raising taxes on a quarter of the American middle class.  On top of that, every Senator who supported this budget voted to pay for this by cutting Medicare by nearly $500 billion and Medicaid by over $1 trillion. Middle class families and American workers deserve people who will stand up for them – not sell them out.”

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WATCH: Gary Cohn applauded by banking lobby for Trump Administration plan to weaken Wall Street reforms 

American Bridge spokesperson Andrew Bates released the following statement after National Economic Council (NEC) Director Gary Cohn told the American Bankers Association – receiving applause – that the Trump Administration was working to diminish financial sector regulations put into place after the 2008 financial crisis: 

“At the very same time that Trump is pushing a tax plan that would give 80% of its benefits to the wealthiest Americans, his top economic adviser is being applauded by the banking lobby for promising to erode post-financial crisis Wall Street reforms.  The middle class and American workers need an advocate in the White House, but instead Donald Trump is trying to further rig the economy in favor of the richest taxpayers and expose the American people to a catastrophic repeat of the 2008 recession.”

WATCH:

American Bankers Association President and CEO Rob Nichols: Kind of a broader picture just about the overall tone […]

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