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12.17.19

Thom’s Magic Wand – Tax Edition: Tillis Benefited From Millions In Funding From Koch Groups That Stood To Benefit From GOP Tax Law

Thom’s Magic Wand – Tax Edition: Tillis Benefited From Millions In Funding From Koch Groups That Stood To Benefit From GOP Tax Law

Ahead Of Friday’s Anniversary Of Tillis’ Vote For The GOP Tax Law, Team Cal Will Recap His Vote

RALEIGH, NC – As Senator Tillis launched his reelection bid he told WRAL that, “we’d be even better off” if he could “wave a wand and do everything we did in North Carolina up in D.C.” 

Today, we continue Thom’s Magic Wand: Tax Edition, a look at the impact of Tillis’ record on taxes ahead of the Friday anniversary of Tillis’ vote for the GOP tax law in 2017.

As both Speaker of the North Carolina House and as Senator, Tillis helped pass tax legislation that benefited corporations and the highest income earners the most. In contrast, Cal Cunningham is committed to tax policy that benefits North Carolina families.

Yesterday, we recapped how Tillis helped his Big Pharma donors keep billions of dollars through the GOP tax law.

Today, we’re reviewing how Tillis benefited from millions of dollars in political donations and support from Koch Groups that stood to benefit from the GOP tax law Tillis supported.

  • Americans For Tax Fairness estimated that the Koch Brothers and Koch industries could save between $1 billion and $1.4 billion combined in income taxes each year thanks to the GOP tax law.

  • So, Koch Groups spent over $20 million to promote the tax bill, including town halls, door-to-door canvassing, TV ads and lobbying. 

    • American Prospect: “The immense amounts shelled out by the Koch network to pass and promote the GOP tax law are just drops in the bucket compared with the tax windfall the Koch brothers will reap from the new law.”

  • Koch Groups spent more than $9 million to help elect Thom Tillis in 2014.

  • This cycle, as Tillis faces reelection, Americans for Prosperity has already invested six figures in North Carolina, running ads praising him for his support of the GOP tax bill.