Tlaib Opposes Giving Billions in Tax Breaks to the Rich
WASHINGTON, D.C. — Today, Congresswoman Rashida Tlaib (MI-12) released the following statement opposing H.R. 7024:
“I oppose this GOP-led bill that gives billions of dollars in tax breaks to the rich, while leaving behind millions of children living in poverty. Our families deserve so much better than a bill that trades massive tax breaks for the richest Americans for crumbs for a fraction of the poorest children in our country. In the first year, the richest 120,000 households would get a larger share of the tax benefits than the bottom 88 million families. The poorest 20% of families would receive just $60 on average, while the richest .1% get an average of $57,530 in tax breaks. The expanded Child Tax Credit in the American Rescue Plan reached 61 million children and cut child poverty by nearly half, but this deal falls short, and will only reach a fraction of the most vulnerable.
“It is also another handout to corporations who are already dodging paying their fair share of taxes. For example, Meta—a company making tens of billions in profits—would see its effective tax rate drop from 25% to -2% under this bill. Working families in my district should never be paying higher taxes than the richest companies on earth. I cannot support a bill that deepens wealth inequality and economic injustice to benefit the richest Americans and corporations.
“Our families deserve bold, transformative policies that take meaningful steps to end child poverty at its roots. I call on my colleagues to pass my End Child Poverty Act which would cut child poverty by 61%, the deepest child poverty by 93%, and overall poverty by 26%. My legislation would implement a universal child benefit that would lift millions of people out of poverty by providing $428 per child per month to every family in America, so that nobody is left behind. We need real solutions, not more tax breaks for the rich. We should stay at the table and demand a better deal for our children, not settle for crumbs.”