Washington Republicans pushed through tax handouts to the rich and powerful corporate special interests while adding nearly $2 trillion to the national debt and threatening Social Security and Medicare
Atlanta — Two years ago today, Washington Republicans passed their deficit-exploding corporate tax giveaway for special interests and the top 1% through the House with the strong support of Senator David Perdue. This egregious break for rich and well-connected did next to nothing to grow the economy — but it did help line the pockets of Perdue’s wealthy special interest donors.
What exactly was in Perdue’s “deeply unpopular” corporate tax handout?
- $1 trillion tax giveaway to corporations
- Nearly $2 trillion added to the national debt
- Incentives for businesses to outsource jobs (one of Perdue’s favorite activities)
- Even a tax hike on Gold Star families
Perdue’s tax handout actually increased economic inequality, with 83% of its benefits eventually going to the richest 1%. It almost couldn’t get any worse — but Perdue made sure the bill didn’t get any better for middle-class families. When asked point-blank if he would support delaying massive corporate tax breaks in order to provide greater relief to middle-class families, Perdue gave a clear answer: “Absolutely not.”
And now after voting to blow up the deficit for a corporate tax giveaway, what does Perdue want to do next? He’s still trying to put earned benefit programs like Social Security and Medicare on the chopping block. Instead of working to help Georgians, Perdue would rather threaten vital programs to pay for his corporate tax handouts.
“Senator Perdue’s irresponsible tax giveaway shows exactly where his priorities are: putting corporate tax breaks ahead of the needs of Georgia’s middle-class families,” said Alex Floyd, spokesman for the Democratic Party of Georgia. “His reckless agenda will always put his special interest donors first, whether that means giving the wealthiest 1% a giant tax cut or trying to pay for it by putting hard-earned benefits for everyday Georgians at risk.”
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