In November 2017, with the administration of President Donald Trump rushing to get a massive tax overhaul through Congress, Sen. Ron Johnson stunned his colleagues by announcing he would vote “no.” Johnson’s demand was simple: In exchange for his vote, the bill must sweeten the tax break for a class of companies that are known as pass-throughs, since profits pass through to their owners. Johnson praised such companies as “engines of innovation.”
Confidential tax records, however, reveal that Johnson’s last-minute maneuver benefited two families more than almost any others in the country — both worth billions and both among the senator’s biggest donors. Dick and Liz Uihlein of packaging giant Uline, along with roofing magnate Diane Hendricks, together had contributed around $20 million to groups backing Johnson’s 2016 reelection campaign.
A pair of billionaire donors to @SenRonJohnson‘s reelection campaign stand to reap more than $500 million in tax savings thanks to a provision Johnson fought to expand in the Trump 2017 tax cuts.
The latest from the Secret IRS Files (THREAD):https://t.co/3MqZ5BYCoX
— ProPublica (@propublica) August 11, 2021
A ProPublica report outlined $215 million in tax deductions for Sen. Ron Johnson’s Wisconsin donors in 2018 https://t.co/UiemV7RFNi
— The Daily Beast (@thedailybeast) August 11, 2021