Millionaires group endorses Dem House candidates opposed to GOP tax law

Millionaires group endorses Dem House candidates opposed to GOP tax law

A group of wealthy individuals who support higher taxes on the rich is announcing candidate endorsements for the first time, less than two months before the November midterm elections.

The Patriotic Millionaires tell The Hill they are announcing endorsements of 25 Democratic House candidates that they are dubbing “Tax Champions.” The group said it chose candidates who are opposed to the tax-cut law congressional Republicans passed last year and support policies that will help the middle class.

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The group is one of a number of left-leaning organizations that have been pushing back against the GOP tax law, arguing that it largely benefits corporations and wealthy individuals.

The Patriotic Millionaires are also concerned about House Republicans’ proposal for another round of tax cuts, which is expected to get a floor vote later this month.

“The Patriotic Millionaires intimately understand how our current Congress has so flagrantly rigged the system in favor of the rich and powerful,” Morris Pearl, chairman of the group and former managing director of BlackRock, said in a statement. “On the heels of yet another proposal by the GOP to cut taxes on the rich, we are taking a stand against the reckless governing of Trump and the Republican Party.”

Many of candidates backed by the group are Democrats in competitive races for House seats currently held by Republicans. They include Andy Kim, who is challenging Rep. Tom MacArthurThomas (Tom) Charles MacArthur 10 things we learned from the midterms New Jersey New Members 2019 On The Money: Trump, Senate leaders to huddle on border wall funding | Fed bank regulator walks tightrope on Dodd-Frank | Koch-backed groups blast incentives for corporations after Amazon deal MORE (R-N.J.); Jennifer Wexton, who is challenging Rep. Barbara ComstockBarbara Jean ComstockVirginia New Members 2019 Defeated Republicans mocked by Trump fire back at president GOP lawmaker defends Mia Love from Trump attacks: 'I was disgusted when I heard it' MORE (R-Va.); and Sean Casten, who is challenging Rep. Peter Roskam Peter James RoskamIllinois New Members 2019 Defeated Republicans mocked by Trump fire back at president House GOP returns to Washington after sobering midterm losses MORE (R-Ill.).

“Across the country, in districts both urban and rural, the Tax Champions offer a bold vision of reform for our future that addresses the needs of working families and the most economically vulnerable,” Pearl said. “We admire their political courage to take on millionaires, corporations and the elected officials who represent moneyed interests.”

To promote their candidates, members of the Patriotic Millionaires are planning to hold in-person events, tele-town halls and write op-ed pieces. The group said it is also planning a “digital week of action” in October.

The Patriotic Millionaires are also encouraging their members to donate to the endorsed candidates, but it is not setting up a political action committee.