If it’s a day that ends in ‘y,’ you can bet the Koch brothers and their political entity, Americans for Prosperity, are looking for opportunities to alter the tax code in order to further line their own pockets. Most recently, AFP and other ultra-conservative groups have been urging lawmakers to support bonus depreciation, which in addition to being a key tenet of AFP’s tax reform proposal, is what the Center on Budget and Policy Priorities deems “fiscally irresponsible” policy.
In addition to this relatively obscure provision, AFP’s tax reform manifesto includes numerous other changes that would tilt the tax code in favor of the super rich at the expense of working class Americans. According to CBPP, the plan includes a massive cut to the tax rates on corporations’ foreign profits and on the income tax paid by top earners, repeal of the estate tax and […]