The Republican tax bill gives massive tax breaks to big corporations to outsource jobs. Under the House GOP bill, a business that creates jobs in the United States would pay a 20% tax on profits, but a big corporation that outsources those same jobs wouldn’t pay a penny in U.S. taxes on any profits it earns from outsourcing.
President Donald Trump and House Republicans should drop this bad tax bill and focus on policies that create American jobs, improve communities and make life better for working families.
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AFL-CIO President Richard Trumka issued the following statement on the Republican tax bill:
This tax bill is a job killer. It gives hundreds of billions of dollars in tax breaks to companies that outsource jobs and profits. No matter how it’s spun by Republican politicians, their tax bill is nothing but giveaways to Wall Street, big corporations and millionaires, paid for on the backs of working families.
It is astounding that a tax bill that will encourage offshoring is even under consideration. It’s shameless to propose cutting Medicaid, Medicare, education and infrastructure to pay for tax breaks for the 1%. History tells us, commonsense tells us and careful analysis of this tax bill tells us that these tax giveaways for the wealthy and big corporations will never trickle down to the rest of us. Real tax reform actually can put money back in the pockets of working people, but this is not that kind of plan.