**ICYMI**

Trump’s tax law helped boost bank profits to a record $237 billion (!!) last year. Despite Trump’s promises, it’s clear that banks, not the middle class, are big winners from his tax law.

Politico: Trump’s tax law makes big winners of banks, giving $29B boost to profits

By Victoria Guida

The tax cut law signed by President Donald Trump helped boost bank profits to a record $237 billion last year, a 44 percent jump from 2017, the government said Thursday, the latest evidence of the law’s huge benefit to corporate America.

Lenders brought in $72.4 billion more in income in 2018 than the previous year, with $28.8 billion — or more than a third of that figure — attributable to lower taxes, the Federal Deposit Insurance Corp. said in its quarterly report on the industry.

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