GOP gave banks $21 billion tax cut — and they used it to fire thousands

 

Banks benefited the most from the GOP’s tax scam.

Mitch McConnel, Paul Ryan, Donald Trump and Mike Pence celebrating GOP tax cut for the rich bill. Credit: Official White House Photo

Well, we found one industry that benefitted from the Republican tax scam: U.S. banks.

According to Bloomberg News, major U.S. banks saw a $21 billion tax cut in 2018, beating the tax cut estimates the banks themselves projected they’d receive from the new law, all thanks to the Republican-passed tax bill.

And what did the banks do with that massive windfall?

View the complete February 6 article by Emily Singer on the Shareblue website here.