FOR IMMEDIATE RELEASE
April 11, 2022
Contact: Philip Shulman (email@example.com)
ICYMI: Ron Johnson Admits He and His Biggest Donors Benefited From Changes He Had Made to 2017 Tax Bill
MADISON, Wis. – A new Milwaukee Journal Sentinel report found audio of Senator Ron Johnson admitting that he and his biggest donors benefited from the changes that were made to the 2017 tax bill in order to earn Johnson’s vote. Read the report below.
The Milwaukee Journal Sentinel: Ron Johnson says his Oshkosh firm and many others benefited from 2017 business tax cut he championed
- For months, Democrats and their allies have claimed that Republican U.S. Sen. Ron Johnson and some of his top donors benefited from a key provision he pushed for in President Donald Trump’s signature 2017 tax bill.
- During a meeting with GOP supporters Friday in Medford, Johnson was asked by an audience member how they should respond to an ad attacking the senator for his wealth and support for the measure.
- Johnson acknowledged the Oshkosh-based plastics business he owned, Pacur LLC, benefited from the small-business tax provision, as did some of his prominent donors.”Now, did my business benefit? Sure. Did some of my donor businesses? Sure,…” Johnson said.
- In August, an investigation from ProPublica found that the tax provision Johnson championed delivered millions in tax savings to key donors of his campaigns, Dick and Liz Uihlein of Pleasant Prairie-based Uline and Diane Hendricks of Beloit-based ABC Supply. Johnson pushed for a tax break for small businesses and other so-called pass-through entities. In these businesses, profits pass-through to the owners who pay taxes on their personal returns.
- Pacur LLC, the Oshkosh-based plastic company that Johnson helped found, was structured as a pass-through business. Johnson disclosed in his official statement of economic interest that he sold his interest in the business for between $5 million and $20 million in 2020. He said the deal had been in the works since 2018.
- “They said I doubled my wealth,” he said. “That’s true.”
- He said the reason his wealth doubled is that he sold his business.