Today is a victory for the largest and most profitable corporations in this country who, despite record-breaking profits, will now see hundreds of billions of dollars in tax breaks at the expense of working families.
Apple, which has received $726 million in corporate welfare and government handouts over the last 30 years, will get a $48 billion tax cut from Republicans.
Pfizer, which fired thousands of employees and gave executives huge raises after the last repatriation holiday, will get a $38.8 billion tax break.
Microsoft will receive $27.7 billion in tax cuts after donating $17.9 million to the Republican Party since 1990.
Between 2008 and 2015, General Electric received more in tax credits than it paid in actual taxes and is still in line for a $16 billion tax cut next year.
IBM fired 12,000 workers and gave executives a $7 million raise after bringing $9.5 billion back into the US in 2004, yet Republicans want to give the company a $13.9 billion tax cut.
Johnson & Johnson will get a $12.9 billion tax break to "create jobs." Last time it repatriated offshore profits, the company fired people and gave executives a $32.8 million raise.
Exxon Mobil is getting a great return on their investment in the Republican Party. It will receive a $10.5 billion tax break after donating $16.8 million to Republicans since 1990.
After crashing the world economy and costing millions of Americans their jobs, Citigroup & Goldman Sachs took $3.7 trillion in taxpayer bailouts. Now, the GOP is giving them a $15.2 billion tax break.
