Pelosi Statement on Massive Profits of Big Banks from GOP Tax Scam

Contact: Ashley Etienne/Henry Connelly, 202-226-7616

San Francisco – Democratic Leader Nancy Pelosi issued this statement after the FDIC reported that big banks' quarterly profits hit a record $60.2 billion, rising a staggering 25 percent after receiving an estimated $6.4 billion from the GOP tax scam for the rich:

"Over and over, the American people watch as the wealthy and well-connected rake in their massive windfalls from the GOP tax scam for the rich. Nine months after Republicans passed their tax scam, big banks are flush with record, multi-billion dollar savings, but it's hard-working Americans who are forced to foot the bill.

"Republicans wrote a tax scam that handed $2 trillion in unpaid-for tax cuts to Wall Street, Big Pharma, big corporations shipping jobs overseas and the wealthiest 1 percent. Families are drowning beneath stagnant wages, higher health premiums and soaring prescription drug prices under the Republicans' watch, yet the GOP continues to sell out the American people to further enrich the wealthy at every chance they get.

"Democrats will keep fighting For The People, with bold action to lower health care costs and prescription drug prices, increase pay through strong economic growth and rebuilding America, and clean up corruption to make Washington work for everyone."

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