President Trump’s marquee policy achievement, the Tax Cuts and Jobs Act, appears to be primarily benefiting giant, multinational corporations, and ransacking communities across America, like St. Lucie County, Florida, which has experienced a staggering rise of layoffs since the bill’s passage in 2017.
In 2017, 263 employees of Liberty Medical -- once the largest private employer in Port St. Lucie -- were laid off as part of a deal to liquidate its assets. And in the aftermath of Trump’s tax cut, Liberty Medical was acquired by Cardinal Health, a mammoth multinational healthcare corporation and 14th highest revenue generating company in the United States. Cardinal Health proceeded to report an increase of $2.6 billion in revenue due to Trump’s tax bill while having laid off the former Liberty Medical employees in St. Lucie.
During his campaign for President in 2016, President Trump repeatedly promised a revival of manufacturing jobs across the Midwest. But after Kimberly-Clark Corp. closed down its plant in Neenah, Wisconsin, at the end of May 2019 -- even as the company enjoyed a multi-million payday from the President’s corporate tax bill -- some 100 people were out of work.
Kimberly-Clark, the maker of Kleenex, Kotex and other personal-care brands, announced in January 2018 that it would be laying off between 5,000 and 5,500 employees across the country, including the 100 jobs in Wisconsin. On the same day, the company reported $3.3 billion in profits in the 2017 fiscal year.
Three companies with operations in Luzerne County, Pennsylvania, laid off hundreds of workers since the start of 2018, sending jobs out of the country and closing plants while paying their CEOs multimillion-dollar salaries.
An analysis by the American Ledger shows that the tax cuts passed by the then-Republican Congress and signed by Trump in 2017 gave executives a boost but squeezed middle-class workers in this county, centered around Wilkes-Barre in the Pocono Mountains.
In the wake of President Trump’s announcement of an additional 5% tariff on imports from Mexico, a new study shows that major Michigan auto manufacturers stand to lose billions in profit.
Ignoring the reality for the millions in his own state who struggle to put food on the table, U.S. Rep. Jim Hagedorn, R-Minn., said Tuesday that he believes no American goes to bed hungry.
President Donald Trump’s hand-picked choice to lead the Justice Department once lobbied against a bill requiring state and local contractors in Iowa to use U.S.-manufactured steel, iron and other building materials, according to state records.
A Republican congressman said Monday he supports cuts to Medicare and Social Security in order to balance the federal budget while declaring opposition to a ballot measure to raise Arkansas’ minimum wage. There was a marked contrast on economic issues between Rep. French Hill, R-Ark., and his Democratic challenger, state Rep. Clarke Tucker, during Monday’s debate.