May 22, 2019 Press Releases

McSally Tax Law Shifts Burden From Corporations To Arizonans

Martha McSally’s Tax Law Shifts Burden From Corporations To Arizonans

Under the McSally-backed GOP tax law, her corporate special interest backers are paying a lower percentage of overall tax revenue, while individual taxpayers make up the shortfall

“Martha McSally supported the GOP tax law knowing full well that it was a giveaway to her big donors and powerful corporate special interest backers at the expense of hardworking Arizonans”

 

PHOENIX — According to new data from the Internal Revenue Service, powerful corporate special interests — like those that fund Sen. Martha McSally‘s political campaigns — have continued to reap a massive windfall under the McSally-backed 2017 GOP tax law, with “Corporate America paying its lowest share of taxes since Eisenhower.”

While corporate special interests are paying a lower share of taxes than they have “in nearly 60 years,” individual taxpayers and hardworking Arizonans are making up the shortfall and “shouldering a larger share of the country’s tax burden.”

It should be no surprise — to neither McSally nor anyone else — that corporate special interests are continuing to reap big profits under McSally’s tax law: At the time that the law was passed, it was widely reported that 83% of the law’s benefits would go to the richest 1 percent of Americans and powerful corporations like Pfizer and Exxon. McSally supported the law knowing full well that she was supporting a massive transfer of wealth to the billionaires and powerful interests she counts on to support her political campaigns.

“Martha McSally supported the GOP tax law knowing full well that it was a giveaway to her big donors and powerful corporate special interest backers at the expense of hardworking Arizonans,” said Brad Bainum, Arizona Democratic Party spokesperson for the 2020 Senate race. “Now, McSally is counting on those same big donors and powerful special interests to pour millions into her campaign to keep her in the Senate and keep Washington working for them.”

Read more from CBS News.