{"id":1025389,"date":"2023-08-24T01:31:29","date_gmt":"2023-08-24T01:31:29","guid":{"rendered":"https:\/\/democrats.org\/?p=1025389"},"modified":"2024-05-20T14:53:12","modified_gmt":"2024-05-20T14:53:12","slug":"tim-scotts-economic-agenda-handouts-for-the-ultra-wealthy","status":"publish","type":"post","link":"https:\/\/democrats.org\/news\/tim-scotts-economic-agenda-handouts-for-the-ultra-wealthy\/","title":{"rendered":"Tim Scott\u2019s Economic Agenda: Handouts for the Ultra-Wealthy"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

Tim Scott\u2019s chief accomplishment and his economic agenda is all about lining the pockets of billionaires and the biggest corporations while leaving working families out to dry.<\/p>\n\n\n\n

To this day, Scott still proudly boasts about being an \u201carchitect\u201d of Trump\u2019s failed tax scam that rigged the economy in favor of the ultra-wealthy and largest corporations \u2014 and as president, he wants to make those permanent.<\/strong><\/p>\n\n\n\n

Scott<\/a>: \u201cWe make the Tax Cuts and Jobs Act tax cuts permanent.\u201d<\/p>\n\n\n\n

Scott<\/a>: \u201cWhen it comes to our economic challenges, we need to have a hard conversation about policies that actually work. In 2017, I was one of the architects of reforming the personal side of the tax code.\u201d<\/p>\n\n\n\n

Iowa Starting Line<\/a>: \u201cGOP Tax Plan Hurt Farmers, Small Businesses\u201d<\/p>\n\n\n\n

Scott often touts Opportunity Zones as a significant achievement in closing inequality gaps, but growing evidence suggests the policy is little more than a handout to wealthy investors and is actually leaving low-income communities behind. <\/strong><\/p>\n\n\n\n

PBS NewsHour<\/a>: \u201cTrump-era Opportunity Zones meant to help low-income communities exploited by investors\u201d <\/p>\n\n\n\n

New York Times<\/a>: \u201cA new tax break that President Trump frequently touts as a boon to black Americans and hard-hit communities is spurring relatively little job creation while disproportionately helping high-profit real estate projects and not small businesses, an extensive new study by the Urban Institute has found.\u201d <\/a><\/p>\n\n\n\n

The State<\/a>: \u201cStudies of the opportunity zone program have given mixed reviews. Across the country, designated opportunity zones with the highest median household incomes received more investments through 2020 compared to the lowest-income areas in the program, according to a study by the Treasury Department\u2019s Office of Tax Analysis released in June.\u201d<\/p>\n\n\n\n

Tim Scott has vowed to rip up legislation signed by President Biden that helps Americans with high costs and ensures the largest corporations pay their fair share.<\/strong><\/p>\n\n\n\n

Scott<\/a>: \u201cI would simply eliminate the IRA, the Inflation Reduction Act, which of course, is a lie from the pit of hell\u2026I would start the process of gutting that legislation. I would eliminate the vast majority, if not all of the green energy credits. I would eliminate every single one that I could from an executive perspective. But I would also engage Congress to reverse that legislation.\u201d <\/p>\n","protected":false},"excerpt":{"rendered":"

Tim Scott\u2019s chief accomplishment and his economic agenda is all about lining the pockets of billionaires and the biggest corporations while leaving working families out to dry. To this day, Scott still proudly boasts about being an \u201carchitect\u201d of Trump\u2019s failed tax scam that rigged the economy in favor of the ultra-wealthy and largest corporations […]<\/p>\n","protected":false},"author":263,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1025389","post","type-post","status-publish","format-standard","hentry","category-press-release"],"acf":[],"yoast_head":"\nTim Scott\u2019s Economic Agenda: Handouts for the Ultra-Wealthy - Democrats<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/democrats.org\/news\/tim-scotts-economic-agenda-handouts-for-the-ultra-wealthy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:site_name\" content=\"Democrats\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-24T01:31:29+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-20T14:53:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/democrats.org\/wp-content\/uploads\/2024\/05\/Old_War-Room-Master-File.png\" \/>\n<meta name=\"author\" content=\"Claire DePree\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Claire DePree\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/democrats.org\/news\/tim-scotts-economic-agenda-handouts-for-the-ultra-wealthy\/\",\"url\":\"https:\/\/democrats.org\/news\/tim-scotts-economic-agenda-handouts-for-the-ultra-wealthy\/\",\"name\":\"Tim Scott\u2019s Economic Agenda: Handouts for the Ultra-Wealthy - 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