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1 February, 2024

Why kill a bill to help poor working families feed their children? Follow the dark money!

icon Child Tax Credit Bill,Chuck Grassley,Mitt Romney
Follow the dark money behind Republicans trying to kill the Child Tax Credit Bill

GOP senator doesn’t want to pass a tax bill because it could make Biden ‘look good’ - NBC News

A tax bill with bipartisan support passed in the House on a 357 to 70 to vote. The bill would be a significant achievement because it expands the amount of the child tax credit available to lower-income families—a key Biden objective. In exchange, the bill would maintain business tax deductions scheduled to expire. The details are here: WaPo, House votes to expand child tax credit, beef up corporate tax breaks.

"Grassley’s naked admission that Republicans are no longer working to serve the American people but are, instead, concerned only with serving their overlord, Donald Trump.

Grassley is wrong in asserting that the bill will “send checks” to Americans in an election year. The child tax credit is just that—a tax credit offsets taxes owed. If a taxpayer owes no tax, then the tax credit can generate a refund (up to $1,600). Worse, Grassley opposes the bill in the hope that Trump will be able to extend his 2017 tax cuts for millionaires—which added $3.5 trillion to the deficit (through 2033). Extending those tax cuts would increase the deficit even more. - Robert Hubbell in Today's Edition Newsletter

Why would Chuck Grassley oppose such a bill? Follow the money from his billionaire donors with this Explainer.

Follow the money

Follow the dark money behind Chuck Grassley

MAGA: Party of the rich, by the rich, for the rich

Confused why a Senator would block a bill that would help thousands of poor working families so as to give more tax cuts to billionaires? Go to Open Secrets. It's a free website which tracks political donations. You'll see that billioaires Marc Rowan, Stephen Schwarzman and Richard Uihlein all donate to Chuck Grassley. They would all benefit from more tax cuts that Grassley is advocating for.

If only poor families could make big donations to Chuck Grassley, maybe he'd support the Child Tax Credit bill?

Follow the dark money donations to Chuck Grassley

Looking out for MAGA's billionaire donors

"To increase the likelihood of granting windfall tax cuts to the nation’s top income earners in another Trump administration, Senators Grassley and Romney want to deprive tax benefits to the working poor—benefits that Romney derisively calls “entitlements.”

Romney, a former hedge fund manager, has no problem with the “carried interest deduction” for hedge fund managers, which generates billions in tax deductions for the nation’s wealthiest billionaires. In Romney’s view, the carried interest deduction isn’t an “entitlement” because billionaires and millionaires should get to keep their money free of taxes because they are “special.”

We once again stand at the precipice of legislative action that will benefit the American people—but Republicans oppose it because doing so is contrary to Donald Trump's partisan interests. Don’t believe me? Just ask Senator Chuck Grassley". - Hobert Hubbell in Today's Edition Newsletter

Republicans steal tax funds from the poor to pay their rich donors

TakeAway: Stop billionaires rigging the system against you and your family. Vote for President Biden and Democrats.

Image Credit: Dorothy Lange

DISCLAIMER: ALTHOUGH THE DATA FOUND IN THIS BLOG AND INFOGRAPHIC HAS BEEN PRODUCED AND PROCESSED FROM SOURCES BELIEVED TO BE RELIABLE, NO WARRANTY EXPRESSED OR IMPLIED CAN BE MADE REGARDING THE ACCURACY, COMPLETENESS, LEGALITY OR RELIABILITY OF ANY SUCH INFORMATION. THIS DISCLAIMER APPLIES TO ANY USES OF THE INFORMATION WHETHER ISOLATED OR AGGREGATE USES THEREOF.

Billionaire Income Tax Bill forces the super rich to pay their fair share of taxes
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