Organizations Criticize Double Standard for Corporate Tax Breaks
WASHINGTON – Americans for Tax Fairness (ATF) released the following statement Friday following the passage of the Research & Experimentation Tax Credit (H.R. 4438) in the U.S. House of Representatives:
“It is deeply disappointing that a majority of House members have a double standard — one set of rules for corporate tax breaks and another set of rules for everything else,” said Frank Clemente, Executive Director of Americans for Tax Fairness.
“The public will be shocked to learn that after years of fighting over how to reduce the deficit, some members of Congress have decided that deficits don’t matter at all when it comes to doling out corporate tax breaks. Legislators are going to have a tough time explaining to voters why they chose to borrow $150 billion for corporate tax breaks when they couldn’t find $10 billion for the unemployed.”
Earlier this week, Americans for Tax Fairness and 52 other national organizations sent a letter to members of Congress calling on them to vote no on the Research & Experimentation Tax Credit and five other “tax extender” House bills.
Americans for Tax Fairness is a diverse coalition of 400 national and state organizations that collectively represent tens of millions of members. The organization was formed on the belief that the country needs comprehensive, progressive tax reform that results in greater revenue to meet our growing needs. ATF is playing a central role in Washington and in the states on federal tax-reform issues.