Trump Tax Giveaways

$3.5 TO $4.8 TRILLION: TOTAL COST OF TRUMP’S TAX CUTS, MOSTLY FOR THE WEALTHY & CORPORATIONS

• Richest 1% get:
  • Half the tax cuts
  • $175,000 tax cut each year (avg)
• Trump would require one-quarter of middle-class families to pay more in taxes under his plan.

NOTE: Tax cuts based on Trump’s tax plan from April 26, 2017. All tax cuts data described below total more than $4.8 trillion because some tax loopholes are closed to raise revenues.

Trump Budget Cuts

$4.3 TRILLION: TRUMP BUDGET CUTS TO SOCIAL SECURITY, MEDICAID, EDUCATION & ALL OTHER SERVICES

• Trump would cut nearly $2 trillion from health care, mostly Medicaid, harming children, people with disabilities, older Americans, and working families.
• $72 billion cut from Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI) for low-income seniors or people with disabilities.
• $667 billion cut from food stamps, housing assistance, job training, and other critical services.
• Includes other deep cuts to education, medical research, environmental protections, and infrastructure.

Trump Tax Giveaways

$2.3 TRILLION: CORPORATE TAX RATE CUT

• Corporate tax rate slashed from 35% to 15%.
• Corporate tax cuts mostly benefit the wealthy.
• Today, corporate profits are near record highs since the 1950s, while corporate taxes are at record lows.

Trump Budget Cuts

$2.5 TRILLION: TRUMP BUDGET CUTS TO SERVICES THAT BOOST WORKING FAMILIES

• From health care to job training, housing assistance to nutrition, Trump’s budget slashes programs vital to working families—all to pay for his corporate tax breaks.
• These service cuts are 60% of the $4.3 trillion in total cuts proposed by Trump. Our families lose out while wealthy corporations take more and more.

Trump Tax Giveaways

$1.4 to $2 TRILLION: TAX CUT FOR HEDGE FUND MANAGERS, CORPORATE LAWYERS & TRUMP

• Slashes top tax rate on business owners from 39.6% to 15%, helping wealthy hedge fund managers, corporate lawyers, and real estate developers like Trump.
• Just 7% of all business owners would get this tax cut.
• Top 1% gets three-quarters of this tax break—a tax cut of $75,000 each per year (average).
• 400 richest families (like Trump) would get a $9 million tax cut each year (average).

Trump Budget Cuts

$1.9 TRILLION: TRUMP BUDGET CUTS TO MEDICAID & OTHER HEALTH CARE SPENDING

• Trump’s budget would repeal the Affordable Care Act (ACA) and make even deeper cuts to Medicaid, totaling $1.6 trillion.
• Trump would take away Medicaid coverage from 19 million people under ACA repeal. His additional cuts would put even more patients at risk.
• Medicaid provides health care to 69 million children, adults, seniors and people with disabilities. It covers nearly two-thirds of nursing home residents and almost half of all births.

Trump Tax Giveaways

$600 BILLION: TAX BREAK FOR CORPORATIONS STASHING PROFITS OFFSHORE

• U.S. corporations have $2.6 trillion in profits stashed offshore. They owe about $750 billion in taxes on those profits.
• Trump wants to cut their tax bill to just $150 billion—a $600 billion tax break.
• Corporations should pay what they owe, just like working families and small businesses do.

Trump Budget Cuts

$261 BILLION: TRUMP BUDGET CUTS TO TRANSPORTATION INFRASTRUCTURE

• Trump’s budget cuts the repair and maintenance of ground, air, and water transportation systems.
• Cuts the underfunded Highway Trust Fund by $96 billion, losing up to 1.2 million jobs over 7 years.
• U.S. infrastructure is rated D+. Funding is $2 trillion short of what’s needed over the next decade even before Trump’s cuts. Shortfall means 2.5 million fewer good-paying jobs in one year.

Trump Tax Giveaways

$445 BILLION: TAX CUT FROM REPEALING A MINIMUM TAX ON THE WEALTHY

• Eliminates the Alternative Minimum Tax (AMT), which prevents the wealthy from using deductions and other breaks to sharply reduce or eliminate their tax bill.
• The AMT prevented Trump from cutting his taxes by $31 million in 2005, the one year his tax return has been made public.
• Trump’s tax rate would have been less than 4% if the AMT had been repealed.

Trump Budget Cuts

$346 BILLION: TRUMP BUDGET CUT TO EDUCATION, TRAINING, EMPLOYMENT & SOCIAL SERVICES

• Makes deep cuts to K-12 education and college financial aid, eliminating subsidized loans helping 6 million students afford college each year.
• Eliminates after-school and summer programs for almost 2 million students.
• Cuts job training and employment services, depriving 570,000 people of help in 2018.
• Ends funding for Special Olympics education.
• Cuts support for child care, Head Start, and other early childhood education services.

Trump Tax Giveaways

$240 BILLION: TAX CUT FROM REPEALING TAX ON ESTATES WORTH MORE THAN $5.5 MILLION

• Repeals the estate tax, allowing Trump’s kids and other rich heirs to inherit fortunes tax-free.
• Estate tax is only paid by estates worth at least $5.5 million.
• Just 2 out of every 1,000 estates owes any tax—or only 5,500 estates in 2017.

Trump Budget Cuts

$193 BILLION: TRUMP BUDGET CUT TO NUTRITION ASSISTANCE

• Eliminates food stamps for millions of households by cutting the Supplemental Nutrition Assistance Program (SNAP or food stamps).
• SNAP feeds more than 42 million people, including 1 in 4 children.
• Cuts Meals on Wheels support by eliminating three block grants. Meals on Wheels delivers food to 2.4 million low-income seniors each year.

Trump Tax Giveaways

$150 BILLION: TAX CUT ON INVESTMENT INCOME OF THE WEALTHY

• Eliminates a 3.8% tax on the wealthy’s income from stocks, interest, rent and royalties used to fund the Affordable Care Act.
• Tax cut benefits fewer than 3% of taxpayers.
• Millionaires would get a $40,000 annual tax cut (average).

Trump Budget Cuts

$72 BILLION: TRUMP BUDGET CUTS TO SERVICES FOR PEOPLE WITH DISABILITIES

• Cuts Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI), risking the financial security of people with disabilities.
• SSDI supports 10.5 million people who can’t work due to injury or illness and their spouses and children.
• SSI benefits 8.2 million disabled seniors, adults, and children with limited incomes.