SPLIT SCREEN: Trump Plots More Tax Breaks to Corporations as President Biden Delivers Small Biz Boom for Wisconsin

Jan 12, 2024

SPLIT SCREEN: Trump Plots More Tax Breaks to Corporations as President Biden Delivers Small Biz Boom for Wisconsin

MADISON, Wis. — According to a new report from the Washington Post today, Donald Trump is planning to expand his disastrous 2017 tax scam and gift even more tax cuts to big corporations at the expense of middle-class Wisconsin families if he gets another chance. This comes just days after Trump said he’s rooting for the economy to crash.

Trump’s disastrous economic plans come in stark contrast to President Biden’s small business boom as his administration announced new records for small business applications—including more than in any year of the Trump administration.

“After Donald Trump’s 2017 tax scam gave handouts to big corporations, exploded the deficit, and created incentives to ship American jobs overseas, Trump is once again plotting to help the ultra-rich get even richer while leaving working Wisconsinites to shoulder the burden,” said Democratic Party of Wisconsin Communications Director Joe Oslund. “While Trump continues to show Wisconsinites that he cares more about Wall Street than Main Street, President Biden and Vice President Harris are making sure billionaires and corporations finally pay their fair share and building a booming economy from the bottom up and the middle out with small businesses and middle-class Wisconsinites at the forefront. The stakes couldn’t be higher for everyday Wisconsinites this year, and this November, they’ll reject Trump’s failed trickle-down agenda and will help send President Biden and Vice President Harris back to the White House to finish the job.”

While President Biden delivers record accomplishments for small businesses, Trump’s tax scam would be disastrous for working Wisconsin families:

  • Under Trump’s 2017 Tax Cuts and Jobs Act, Wisconsin’s richest 1% received an outsized share of the tax cuts—28% compared to the middle 20% who received just 9%.
  • If Trump got the opportunity to extend his tax cuts, over time, the benefits would flow almost entirely to Wisconsin’s wealthiest residents while raising taxes on middle class Wisconsinites.
  • Since President Biden took office, small business applications have hit record highs for three years in a row. More than 184,000 applications have been filed in Wisconsin alone.
  • Under the Biden-Harris administration, corporations and billionaires are finally being made to pay their fair share—which will help reduce our deficit.