Congressman John Sarbanes today joined more than 100 Members of Congress in calling on Congressional Leadership to strongly oppose ongoing attempts by the Trump Administration and Congressional Republicans to deliver more tax giveaways to corporations and wealthy individuals.
The Members urged Congress to focus its COVID-19 relief effort on providing American families with additional economic relief and better access to high-quality health care.
“In addition to presenting immediate hardships, the COVID-19 pandemic has laid bare and magnified the economic inequality that existed long before the crisis,” the lawmakers said. “As we consider additional relief, we urge you to reject corporate tax breaks that would widen the income gap and reward wealthy shareholders instead of workers.”
The lawmakers continued: “While Republicans continue to stand in the way of expanding refundable tax credits for working families like the Earned Income Tax Credit and Child Tax Credit, they stand ready to award refundable tax credits to large corporations.”
The lawmakers concluded: “We urge you to oppose such corporate tax breaks, which have little to do with pandemic relief and much to do with temporarily boosting the stock market and benefiting the wealthiest among us. Whether in the form of tax breaks, loans, or other federal support, any assistance to corporations must at the very least come with adequate guardrails to ensure workers benefit instead of executives and shareholders.”