Tax Breaks for the Rich in Coronavirus Relief Bill are “Disgusting”

WASHINGTON – Today, April 15th, was originally intended to be Tax Day, this year’s IRS tax filing deadline. In response to the coronavirus crisis, the IRS decided to give taxpayers more time to file their taxes by moving the deadline back three months. On this once-important day, it is more important than ever to recognize the power of the tax code, and how those in positions of authority have used their influence to shape it in ways that help the wealthy and powerful, and hurt normal Americans. 

To mark the occasion and comment on ongoing reports of tax cuts for the rich only recently being discovered in the CARES Act, Morris Pearl, the Chair of the Patriotic Millionaires and a former managing director at BlackRock, Inc., said:

“As Mitch McConnell’s demand that Democrats separate a bipartisan job-saving program hostage from other priorities still echoes through the dome of the capital, it is disgusting to read how hundreds of billions of new tax breaks for billionaire real-estate developers were included in the bill that he sent to the Democrats on a take-it-or-leave-it basis. We can debate whether the House Democrats should have refused to pass the bill, but it is ridiculous that the Senate Republicans forced them to accept a huge new tax break for the rich in order to pass the emergency relief for working Americans.”

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