GM Received Tax Rebate of $104 Million on $4.3 Billion in Income … Still Shutters Lordstown Factory
COLUMBUS — Thanks to the Trump tax scam, more than 10 million American families are paying more, while 60 corporations in the Fortune 500 — including General Motors — paid zero in federal income taxes for 2018.
“General Motors is laying off 14,000 workers across North America and shuttering factories including their plant in Lordstown, Ohio, all while they reap a windfall from the Trump tax scam,” said Ohio Democratic Party Chairman David Pepper. “For 2018, GM actually received a tax rebate of $104 million on $4.3 billion in income. GM took Trump’s massive tax giveaway, and they’re turning around and screwing Ohio workers. And what does Trump think about GM’s decision? He said, ‘It doesn’t really matter.’”
The Institute on Taxation and Economic Policy released a new report last week that found “at least 60 of the nation’s biggest corporations didn’t pay a dime in federal income taxes in 2018 on a collective $79 billion in profits.”
A new report from @iteptweets found 60 corporations paid $0 in federal income tax in 2018.
— Ohio Dems (@OHDems) April 15, 2019