Mike Johnson Commits to Trump’s Tax Scam to Rig the Economy for the Ultra-Wealthy and Big Corporations Arrow

In response to Speaker Mike Johnson promising to extend Trump's tax handouts to the ultra-wealthy, DNC Rapid Response Director Alex Floyd released the following statement:

"On day one of the new Congress, Mike Johnson is making it clear that he's doubling down on Donald Trump and his billionaire Cabinet's plans to give another round of tax handouts to Trump's ultra-wealthy backers at the expense of the middle class. Trump and his MAGA Republican allies aren't interested in what's best for working families - just what's best for their rich friends and their own bottom lines."

NEW: Speaker Mike Johnson vowed to extend Trump's failed tax scam that rigged the economy for the ultra-wealthy.

Johnson: "We'll extend the Trump tax cuts."

Trump is doubling down on his failed MAGAnomics agenda that puts billionaires and big corporations ahead of hardworking Americans.

Trump: "You're all people that have a lot of money. … You're rich as hell. … We're gonna give you tax cuts."

Trump: "I will never let the Trump tax cuts … I will never let them be taken away."

Trump on whether his second term tax policies would echo those of his first term: "Yes, and I'd do even more taxes."

Vanity Fair: "Donald Trump Wants to Give His Favorite Corporations Another Giant Tax Cut in a Second Term"

Washington Post: "The former president's closest economic advisers are plotting an aggressive new set of tax cuts to push on the campaign trail and from the Oval Office if he wins a second term. Trump and his advisers have discussed deeper cuts to both individual and corporate tax rates that would build on his controversial 2017 tax law … Trump's advisers, though, have discussed proposals to make deeper cuts to the overall corporate tax rate, potentially to as low as 15 percent, or to use the revenue from the proposed tariffs to pay a dividend to U.S. households. Further cutting corporate taxes … would primarily benefit large firms."

REMINDER: Trump's tax scam gave massive handouts to the ultra-wealthy at the expense of working families and created new incentives for companies to ship jobs overseas.

Forbes: "Trump Tax Cuts Helped Billionaires Pay Less Taxes Than The Working Class In 2018"

Washington Post: "For the first time in history, U.S. billionaires paid a lower tax rate than the working class last year"

CBS News: "Two years after Trump tax cuts, middle-class Americans are falling behind"

Washington Post Analysis: "One of President Donald Trump's lesser-known but profoundly damaging legacies will be the explosive rise in the national debt that occurred on his watch. The financial burden that he's inflicted on our government will wreak havoc for decades, saddling our kids and grandkids with debt. The national debt has risen by almost $7.8 trillion during Trump's time in office. …

"The growth in the annual deficit under Trump ranks as the third-biggest increase, relative to the size of the economy, of any U.S. presidential administration, according to a calculation by Eugene Steuerle, co-founder of the Urban-Brookings Tax Policy Center."

Washington Post: "Trump promised 'America First' would keep jobs here. But the tax plan might push them overseas."

Trump owns the worst jobs record in modern American history.

Fortune: "Trump to leave office with the worst jobs record since Herbert Hoover"

Washington Post: "President Trump took office at the crest of the longest economic expansion in U.S. history. He leaves presiding over the worst labor market in modern U.S. history, as an already-sputtering economic recovery has turned negative."

Bloomberg: "Trump's Jobs Record Fell Short of Promises Even Before the Virus"

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