As the House prepares to vote on the Trump tax bill this week, Bridge Project is launching a new digital ad sounding the alarm that the plan would break Donald Trump’s biggest promise by encouraging multinational companies to outsource good-paying American jobs.
“Donald Trump’s economic policies could not be more at odds with the promises he made on the campaign trail,” said American Bridge Vice President Shripal Shah. “Instead of working on a jobs plan, he’s stacking his administration with lobbyists and pushing through a tax bill that would send American jobs overseas – and that’s on top of raising taxes on millions of middle class Americans to cut taxes for the rich. His agenda speaks volumes about who he’s truly looking out for, and it’s most certainly not working Americans.”
The House Republican tax proposal would place a lower tax rate on profits earned by American companies overseas than the tax rate for domestic profits. According to multiple warnings from economic experts, this change would give multinational corporations a gigantic new incentive to move American jobs to other countries.
At the same time, Fortune 500 CEOs are already announcing that they will not use the corporate tax cuts in this plan to create jobs – as Trump and Republicans have promised – but instead to pay shareholders more.
Also, numerous nonpartisan studies demonstrate that the tax plan Republicans and Donald Trump are advocating for the House to pass this week would raise taxes on millions of middle class families in order to provide new tax cuts for the wealthiest taxpayers and large corporations. One of these reports projects that half of ALL middle class Americans – 1 out of 2 – would experience a tax increase.