Local Leaders Highlight Daines’ History of Giving Massive Tax Breaks to Ultra-Wealthy and Corporations

Rachel Prevost2020, Daines, News, Republicans

FOR IMMEDIATE RELEASE
Tuesday, July 14, 2020

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Local Leaders Highlight Daines’ History of Giving Massive Tax Breaks to Ultra-Wealthy and Corporations
 
Helena, MT – As Tax Day approaches, the Montana Democratic Party hosted a press call and released a new video to hold Senator Steve Daines accountable for his record of handing tax giveaways to the ultra-wealthy and massive corporations, while paying lip service to hardworking Montanans. 
 
The speakers, including State Rep. Jim Hamilton, small business owner Chelsia Rice, and DNC National Committeeman Jorge Quintana, called out Daines for championing the 2017 Republican tax scam which allowed corporate America to reap a windfall, while working Montanans got the short end of the stick.
 
In addition to the press call, MDP is launching a countdown clock on DishonestDaines.com to August 13 when Daines’ 2019 financial disclosures are due to be released to the public. Daines has a long history of trading mutual funds around events and votes that could benefit his financial portfolio, including purchasing major investments in a health care fund during the Senate’s vote to begin debate on its Affordable Care Act repeal bill, and selling large stakes in mutual funds with significant investments in Chinese companies around the time of developments in U.S.- China trade negotiations. 
 
Montanans will be watching closely to see if Daines’ trading patterns have continued.
 
Key excerpts of the call below:
 
State Rep. Jim Hamilton – “The tax plan should have been called the ‘great corporate giveaway tax break’. It was sold by the administration and by Daines as a middle income benefit, and just this year Daines touted jobs growth after the tax cut. Both of those claims were misleading, or at the very least disingenuous. Growth has been slower than in previous administrations and the bulk of the benefits of this tax cut ended up in the hands of higher income earners, as well as corporations. So where’d the money go? Well supporters, including Daines, knew the vast majority of that was going to go to corporations.”
 
Small business owner Chelsia Rice –  “We’re happy to pay taxes because we know the benefits of supporting our communities and counties, states and nations. But we sure could use a break – one that Senator Daines said he would give us when he passed the tax bill in 2017. When he says he supports small businesses, he doesn’t mean the smallest of businesses in downtown Main Street. The tax bill he passed in 2017 permanently cut the tax rate for big corporations, but not for the little guys. What we now know is that it lines the pockets of the ultra-wealthy, benefitting the 1% over the majority of businesses and small business owners.” 
 
DNC National Committeeman Jorge Quintana – “Steve Daines likes to make a big show over his concerns over the national debt, but acts completely different in Washington. In 2014 he campaigned on reeling in the debt, and in 2012 called the national debt the ‘greatest national security threat.’ But when he had an opportunity to cut taxes for his ultra-wealthy friends, that concern for rising deficits was notably absent. He championed the Republican tax law benefitting his wealthy friends and settled the rest of us, and Montana’s future generations, with mountains of debt.” 
 
A recording of the call can be found here
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