The Billion Dollar Backers Behind the Trump Tax Scam
Congressional Republicans sell out to Big Oil, Pharma, and Wall Street to pass Trump’s deeply unpopular bill.
Written by Caroline Ciccone, President of Accountable.US
On the Fourth of July, under the guise of patriotism and a claimed commitment to “America First” policies, President Donald Trump signed a bill on the White House South Lawn that rips health care away from millions of workers and families while handing massive tax breaks to his corporate donors and friends. What was promised as a celebration of freedom turned out to be one of the biggest betrayals of the American people in modern memory.
So why did he do it? Why would a president choose Independence Day, a moment meant to honor American ideals, to attack working families and reward billionaires? The answer isn’t that these are policies that Americans want – in fact, we know they are actually incredibly unpopular.
The answer is as simple as it is disturbing: their own money and power.
This bill didn’t materialize out of nowhere – it was bought and paid for. In the months leading up to the vote, campaign filings show that Big Oil, Big Pharma, Wall Street, and Big Tech poured millions of dollars into congressional Republican coffers. In return, they got what they wanted: tax breaks, less oversight and accountability, at the expense of massive cuts to the safety net that millions of Americans rely on.
Just look at the numbers from the latest congressional campaign filings that cover just April through June of this year:
Speaker Mike Johnson received $37,500 from Big Pharma, $73,500 from Wall Street, and more than $30,000 from the tech and telecom industries.
Senate Majority Leader John Thune took $76,000 from Big Pharma and $31,000 from Big Tech, including $15,000 from Verizon, a top beneficiary of Trump’s tax cuts.
Reps. Juan Ciscomani and Jen Kiggans, who had previously warned against cutting Medicaid, each accepted $141,800 and $73,700, respectively, from pro-tax scam congressional Republican colleagues, on top of donations from Big Tech, Wall Street, and pharmaceutical companies – before conveniently voting yes.
Out of 6 Republican senators and 10 Republican representatives who either voiced concerns about Medicaid cuts or played a leadership role in passing the Big, Beautiful Betrayal, Accountable.US found $124,500 from Big Oil, $415,000,000 from healthcare and pharma, $141,000 from big tech and telecommunications, and $439,500 from the financial industry. $2.16 million in total from corporate interests that stand to benefit from tax breaks and other provisions in the reconciliation package, and at least $220,000 from aligned conservative PACs that appear to have been pushing these recipients to vote for the package.
On top of that, the American Petroleum Institute spent nearly $2.1 million, the American Bankers Association spent $1.9 million, and Pharmaceutical Research and Manufacturers of America (PhRMA) unleashed a whopping $7.6 million, to lobby Congress as the tax giveaways were being finalized.
These lawmakers didn’t just break their promises to constituents. They chose to take their cues from lobbyists and cash those promises in for themselves.
This bill is nothing short of a reverse Robin Hood scheme; a massive redistribution of wealth from the poor and middle class to the ultra-rich. At least 10 million people are expected to lose their healthcare. Over 20 million will see their SNAP benefits slashed. Meanwhile, billionaires and mega-corporations walk away with a windfall.
And Trump? He gets exactly what he wants: loyalty from Republicans in Congress, praise from wealthy donors, and headlines that keep his base distracted while the rich and powerful consolidate even more wealth and power.
Even members of Congress who claimed to be on the fence, like Rep. Rob Bresnahan, who called himself “one of the last holdouts on the bill,” quickly fell in line. What he didn’t say was that he received $61,000 in campaign contributions from congressional Republican colleagues and conservative PACs, including the Koch group, in the days and weeks before the vote.
Lawmakers like Senator Lisa Murkowski, who voiced concern over cuts to Medicaid, changed their mind to sign off on historic cuts that go against their true positions. Even so-called “fiscally responsible” congressional Republican lawmakers were happy to vote for a budget scheme that will wreck America’s financial future.
This isn’t legislating. It’s looting in broad daylight.
Trump’s version of “America First” means putting corporate interests before the American people. It means politicians beholden to donors, not voters. It means policies shaped by checks from Big Pharma, not the needs of families who can’t afford their prescription drugs. And it’s all happening because that’s what Trump wants – and his approval is all that matters to those in charge of Washington today.
No longer do our elected officials even have to pretend to care about the optics of putting special interests over their constituents when the only thing that matters to congressional Republicans is blind fealty to Donald Trump.
On the Fourth of July, the American people didn’t get independence – they were sold out. And the more they learn about what is in this bill and how it will impact their lives, the more furious they’ll be at the politicians who lied to their faces and lined their pockets behind closed doors.
Caroline Ciccone is President of Accountable.US. Having previously served as the organization’s Executive Director, Ciccone returns to Accountable.US after two years in the Biden-Harris Administration. Most recently, she was Deputy Assistant Secretary for Public Affairs (Health Care) at the U.S. Department of Health and Human Services, where she developed messaging and strategic communications for key priorities, including implementation of the Inflation Reduction Act’s healthcare provisions and policies related to Medicare, Medicaid, the Affordable Care Act, and reproductive health care. She also served as Communications Director at the U.S. Office of Personnel Management (OPM), where her work supported the 2.1-million-member federal workforce.
Ciccone has nearly two decades of experience in strategic communications, spanning both the public and private sectors. Earlier in her career, she worked as Managing Principal at Precision Strategies, a strategic consulting firm, and prior to that, as Executive Director of Americans United for Change, an issue advocacy organization, where she collaborated with partner organizations to advance policies such as raising the minimum wage and immigration reform. Ciccone also served in the Obama Administration’s Office of Communications and Public Liaison at the U.S. Small Business Administration (SBA), as Deputy Communications Director at the Democratic National Committee, and in the press office of former Senator Barbara Boxer.
Originally from Massachusetts, Ciccone holds both a bachelor’s and master’s degree from Stanford University.
 | A guest post by
|
Because they all have taxpayer funded healthcare, they don't care what it's like for the rest of us. Shameful gluttons for power and money. They make me sick!!!
We need to take our country back.