Help Stop the Billionaire Tax Loophole

September 30, 2016

Some Wall Street millionaires and billionaires pay less taxes than hardworking teachers, nurses, and musicians through a practice known as “carried interest loophole.” This election cycle, we need to tell our members of Congress it’s time for them to make a commitment to stand up for the best interest of working families, not Wall Street millionaires and billionaires.

This loophole has real consequences for our families and our communities. It has meant that billions of dollars that could have gone to fund education for our kids and fix our crumbling bridges and schools has, instead, gone into the pockets of Wall Street billionaires.

Politicians on both sides of the aisle recognize that closing this ridiculous loophole is common sense. Democratic presidential nominee Hillary Clinton and Sens. Bernie Sanders and Elizabeth Warren have all been calling to end it. Even Jeb Bush, the former Florida governor and Republican presidential candidate, who has supported other tax breaks for the wealthy, agrees that this practice has to stop.

But there are still far too many politicians—both Democrats and Republicans—who don’t want to take action on this. It’s up to us to make sure our members of Congress hear from working families now, more than lobbyists and wealthy campaign contributors, that ending tax breaks for Wall Street billionaires is the right thing to do.

The AFL-CIO has set up a petition so you can let Congress know that it’s time to close the carried interest loophole and stop the special treatment of Wall Street billionaires.

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