For Immediate Release
Thursday, August 1, 2024
Patriotic Millionaires: The Tax Relief for American Families and Workers Act Was a Bad Deal
“Democrats must grapple with the reality that Republicans and their billionaire donors are not acting in good faith… the goal should be a fundamental overhaul of our tax code so that it delivers for American workers. Anything less is a failure.”
WASHINGTON, DC – Today, the United States Senate rejected the Tax Relief for American Families and Workers Act of 2024, a deal that would have modestly expanded the Child Tax Credit while extending a trio of major tax cuts for corporations.
In response, Stephen Prince, Vice-Chair of the Patriotic Millionaires and founder of Card Market, Inc., released the following statement:
“This was a bad deal. But remarkably, it was killed by a handful of Republicans who believe they can win even more payouts for their ultra-rich donors next year. Democrats need to think bigger, aim higher, and hold corporations accountable instead of enabling obscene corporate tax dodging in exchange for breadcrumbs for working families. As the 2025 tax battle gets underway, we should be on guard for efforts to further enrich corporations and the ultra-wealthy via the tax code.
Democrats must grapple with the reality that Republicans and their billionaire donors are not acting in good faith. They must not waste next year’s opportunity – the expiration of the 2017 Trump tax scam – by entrenching a broken system. The goal should be a fundamental overhaul of our tax code so that it delivers for American workers. Anything less is a failure.
Republicans continue to sell the snake oil of ‘trickle-down’ economics to Americans. Let me be clear: at some point, they will have to acknowledge that the only way to fix our economy and our country is to raise taxes on the rich. Their favorite pet project of cutting taxes for rich people is ruining the country and leaving behind a mess for which our children and grandchildren will never forgive us.”
For additional information or interview requests, please contact Emily McCloskey at emily@pm-mig.test.
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