Warren, Kelly, Murphy Release New Data Showing Small Fraction of Americans That Would Benefit From GOP’s Tax Giveaways

In response to lawmakers’ letter, Joint Committee on Taxation (JCT) revealed number, percentage of individuals, corporations in highest income brackets
Lawmakers led recent vote series opposing tax cuts for wealthiest Americans, billionaire corporations
Text of JCT Response (PDF)
Washington, D.C. –U.S. Senators Elizabeth Warren (D-Mass.), a member of the Senate Finance Committee, Mark Kelly (D-Ariz.), a member of the Joint Economic Committee, and Chris Murphy (D-Conn.), a member of the Senate Appropriations Committee, published new data from the Joint Committee on Taxation (JCT) revealing the small fraction of taxpayers and corporations that would benefit from tax giveaways as a result of Congressional Republicans’ tax plans.
“Republicans in Congress are bending over backwards to make life easier for a tiny fraction of the wealthiest Americans and corporations — at the expense of working families. Republicans’ agenda is clearer than ever: billionaires win, families lose,”said Senator Warren.
Last month, following the lawmakers’ vote series forcing Republicans to go on the record about their support for tax cuts for the ultra-wealthy, the lawmakersasked JCT to provide answerson:
The JCT response revealed that the corporations and individuals who Republicans have supported delivering tax cuts to make up a tiny percentage of American taxpayers. The response revealed that:
As part of the budget reconciliation process, Senate Democrats led by Senator Warrenforced Republicans to go on the recordwith their plans to give massive tax handouts to the wealthiest Americans and giant corporations. Democrats asked whether Republicans would oppose more tax cuts for people making over $100 million, $500 million, or even $1 billion in a single year;Republicans voted no. When asked whether Republicans would oppose additional tax cuts for corporations making over $1 billion in a single year—including corporations like Amazon, Tesla, and ExxonMobil—Republicansvoted no again.
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