Skip to main content
From 2008 to 2015, 258 Fortune 500 corporations that consistently netted profits paid an average effective tax rate of just 21.2 percent. One hundred of these corporations paid no federal taxes or even claimed a rebate in at least one year from 2008-2015; of corporations that had substantial overseas profits, most paid higher tax rates to foreign governments than to the United States.
Republican responses to the nonpartisan Congressional Budget Office (CBO) finding that 24 million Americans will lose health insurance coverage under their plan revealed deep divisions among congressional Republicans about how best to proceed on health care. These divisions remain on display today as Republicans scramble to make changes to the American Health Care Act (AHCA) in a last-minute effort to pick up votes.
President Trump has promised an infrastructure overhaul in the United States, assuring Americans in his recent address to Congress that “crumbling infrastructure will be replaced with new roads, bridges, tunnels, airports and railways gleaming across our beautiful land.” Yet, now more than 50 days into his Administration, there is still no plan.
Following the rollout of the disastrous Republican plan to gut the Affordable Care Act and take health insurance away from millions of Americans, the Joint Economic Committee Democrats today released a “GOP Health Care Plan Scorecard” with evaluations by a group of distinguished economists assessing the magnitude of the harm caused by the bill. Economists examined how the GOP plan would affect access to coverage, the affordability of care and the quality of coverage.
Seventy percent of the benefits from President Trump’s childcare proposals would go to families earning at least $100,000, and 25 percent of benefits would go to families earning at least $200,000, according to new analysis from the Urban Institute.
The Economic Policy Institute released a state-by-state breakdown of the impact of ACA repeal. For instance, if the ACA were repealed, in Ohio alone 964,000 people would lose their health insurance—an increase of 155 percent—and over 50,000 jobs would be lost.
Repealing the ACA would increase the number of uninsured by 18 million people in the first year, and 32 million by 2026, according to CBO estimates. Premiums for individual plans would increase by 20-25 percent above current projections in the first year and would be roughly double the premiums currently projected for 2026.
If confirmed, Labor Secretary nominee Andrew Puzder will be America’s top watchdog against employer wage theft, which robs workers of more than $50 billion annually. An investigation of DOL data found around 60 percent of Mr. Puzder’s fast food restaurants had Wage and HourDivision violations.