New Jersey Citizen Action says a vote by Rep. Tom MacArthur (R-Toms River) in support of President Donald Trump’s tax cut proposal has just helped the wealthy through stock buybacks.
“Instead of trying to lessen the impact on hard working New Jersey families from their first misguided tax giveaways to big corporations, Republicans like Tom MacArthur are doubling down on the pain they have already caused,” said Ann Vardeman, program director for New Jersey Citizen Action. “The first round to Trump Tax cuts did nothing to raise wages significantly for the American workers but continued to shift the burden on the back of employees while large employers get more for stock buy backs and bonuses.”
The group noted that a permanent cap of SALT deductions now proposed by the Republican House majority would double tax many working class New Jersey families.
“This should not surprise anyone and it’s why Tom MacArthur’s campaign is bankrolled by the wealthy and corporations with less than 1% of Tom MacArthur’s donations coming from small donors,” Vardeman said. “For Tom MacArthur the wealthy and corporations are the 99%.”
MacArthur faces Democrat Andy Kim, a former Obama White House staffer, in his bid for re-election to a third term in New Jersey’s 3rd district.