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FOR IMMEDIATE RELEASE
February 4, 2021
Contact:
Maddy McDaniel, Communications Director
[email protected] or 914-471-7716
NEW DIGITAL AD: GOP PASSED $1.9 TRILLION TAX CUTS FOR THE WEALTHY BUT CRY “DEFICIT” WHEN IT’S $1.9 TRILLION FOR STRUGGLING FAMILIES
The $1.9 Trillion Tax Bill of 2017 Gave Over $1 Trillion to Wall Street, and Included Provisions that Benefited the Wealthiest 0.2% of Americans
President Biden’s $1.9 Trillion Covid Relief Plan Would Give $1 Trillion in Unemployment Insurance and Direct Checks to Struggling Families, Keep Small Businesses Afloat, and Keep Essential Workers on the Job
The American Rescue Plan Would Boost GDP By 4% by the end of 2021, Says Brookings
Majority of Americans Want a Large Covid Relief Package As Soon As Possible, Even Without A Bipartisan Vote In Congress
WASHINGTON, D.C. — Today, Invest in America launched a digital ad, “$1.9 Trillion vs. $1.9 Trillion,” highlighting how many Congressional Republicans passed a $1.9 trillion tax bill when it benefited big corporations and wealthy interests in 2017, but are now balking at the same price tag when it would help struggling Americans put food on the table, help local governments keep first responders on the job and get people vaccinated, and keep small businesses afloat during the worst economic crisis since the Great Depression. The ad will run on targeted digital platforms. View the digital ad here.
“A $1.9 trillion price tag was a-ok for some folks when it lined the pockets of big corporations and the wealthiest Americans, but now those individuals claim the price tag is too high when it helps get Americans back on their feet after the worst year for the economy since World War II,” said Zac Petkanas, senior advisor to Invest in America Action. “Here’s the bottom line: America needs big, bold stimulus to help our economy recover from the coronavirus crisis. Hypocrisy shouldn’t get in the way.”
While President Biden’s American Rescue Plan would put money directly in the pockets of people in need, give support for struggling small businesses, help get people vaccinated and keep essential workers on the job, the GOP’s 2017 tax bill mostly benefited corporations that shipped jobs overseas, and the wealthiest Americans:
The 2017 Republican corporate tax giveaway will cost $1.9 trillion, and mostly benefited the very wealthy on the backs of middle class and struggling families.
President Joe Biden’s $1.9 trillion emergency coronavirus relief package mostly provides direct economic relief for middle class and struggling families.
The package includes a significant expansion of child tax credits, increasing the credit up to $3,600 per child and allowing 17 year olds to qualify.
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