The Republicans recently managed to push through their problematic tax reform. Lest we forget, the new tax law cuts corporate tax rates from 35% to 21%. The plan also has special deductions for gas and oil investors, and repeals the estate tax, all things which benefit the already-wealthy.
Included in the group which will benefit from the new tax law are brothers Charles and David Koch.
The Koch brothers run one of the largest private corporations in the world, Koch Industries, and together are worth an estimation $100 billion. The corporation manufactures a multitude of products and runs several oil refineries. Koch Industries, and therefore the Koch brothers, are estimated to save billions of dollars under the new tax plan.
Which makes it really interesting that, just days after the tax laws were passed, Charles Koch and his wife donated nearly $500,000 to Paul Ryan’s fundraising committee.
The donations were paid to Team Ryan, which raises money for a PAC run by Ryan, the National Republican Congressional Committee (NRCC), and for the speaker himself. Charles Koch and his wife each also donated $237,000 directly to the NRCC.
Adam Smith, spokesperson for Every Voice, a campaign finance reform non-profit said that, “It looks like House Speaker Ryan is quickly being rewarded for passing this legislation that overwhelmingly benefits the Kochs and billionaires like them.” And that’s exactly what it looks like, especially considering that Paul Ryan has indicated that he more than likely not be seeking re-election. The Koch brothers continue to prove that if you have enough money, you can buy power.