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Corporations, Not Workers Reaping the Major Benefits of Heller’s Tax Bill

Despite Sen. Heller’s promises, news reports continue to show that those benefiting the most from Senator Heller’s tax bill are not regular working people—it’s giant corporations and the richest 1 percent. Read for yourself:

Reuters: Few U.S. adults report bonuses, raises from Republican tax law

Two percent of U.S. adults said they had gotten a raise, bonus or other additional benefits due to the Republican tax law enacted a month ago by President Donald Trump, according to a Reuters/Ipsos poll released on Monday.

The Hill: Poll: 2 percent say they’ve benefited from GOP tax plan with raise or bonus

Only 2 percent of American adults reported receiving a bonus, a bump in pay or another perk due to the Republican tax overhaul passed in December, a new survey found.

Bloomberg: What Companies Are Really Doing With Their Tax Windfall (So Far)

Only 4 percent of companies said they had ‘increased wages for all employees’; an additional 3 percent said they planned to do so in the next year. While an further 13 percent said they’re ‘considering taking action this year or next,’ a full 80 percent of companies aren’t considering giving raises at all.

New York Times: Editorial: Are Corporate Tax Cuts Raising Pay? Yes, for Bosses

If President Trump and the Republicans in Congress were serious about helping workers via the tax code, they had obvious options open to them: They could have cut taxes on the middle class and expanded the earned-income tax credit for poorer workers. Instead, they chose to write giant checks to big investors on the accounts of future generations.

MarketWatch: Tax overhaul will have a limited effect on U.S. economy, Moody’s says

The U.S. tax bill signed into law in December will have a limited effect on the U.S. economy, as companies are unlikely to spend their tax savings on growth initiatives while the tax cut for the wealthy will not trickle down.