May 29, 2019 Press Releases

REPORTS: McSally Tax Law Boosts CEOs, Leaves Working Families Behind

NEW REPORTS: McSally’s Tax Law Boosts Corporate CEOs While Leaving Arizona’s Working Families Behind

Continuing reports add further evidence of McSally rewarding her corporate special interest donors at the expense of working families

When McSally voted for the law, she knew it would send 83% of its benefits to the richest 1% and large corporations like Pfizer and Exxon

To offset the tax law’s cost, McSally and her Washington GOP allies have proposed deep cuts to Medicare and AHCCCS 

PHOENIX — Two new reports bring even further evidence that the Martha McSally-championed 2017 Republican tax law was a disproportionate giveaway to the richest 1% of Americans and powerful corporate special interests that has left working families behind:

  • “Very little growth in wage rates” for “ordinary workers.” A new report from the nonpartisan Congressional Research Service highlights that while powerful corporations have reaped huge tax breaks under the GOP law, “ordinary workers had very little growth in wage rates.”

  • “C.E.O. pay increased at almost twice the rate of ordinary wages.” Meanwhile, an analysis from the New York Times has similarly found that while ultra-wealthy CEOs are making more money than ever — with the “median boss receiv[ing] compensation of $18.6 million” — American workers aren’t benefiting at the same level, such that “Compensation for top bosses grew at double the pace of ordinary workers’ wages.”
These two reports highlighting increasing inequality under Sen. McSally’s tax law follow another report — from just last week — on “Corporate America paying its lowest share of taxes since Eisenhower,” such that individual taxpayers and hardworking Arizonans are paying a bigger share in taxes and “shouldering a larger share of the country’s tax burden.”

After voting for the law — which was at the time projected to send 83% of benefits to the richest 1% and powerful corporations like Pfizer and Exxon — McSally stood with her Republican colleagues’ push for deep cuts to programs like Medicare and AHCCCS to pay for their tax-cuts-for-billionaires law. Despite McSally’s openness to slashing the programs, 1,279,721 Arizonans count on Medicare, while AHCCCS covers 3 in 5 Arizona nursing home residents and 3 in 8 kids.

Billionaire megadonors and corporate special interests spent millions of dollars on McSally’s behalf last year after she voted for this tax law giveaway, and it’s easy to see why they’re poised to spend millions more to try to keep McSally working for them in Washington.