December 7, 2022
Congress Urged To Boost Corporate Taxes, Not Cut Them
In Letter to Congress at Start of Lame Duck, Nearly 60 National Groups Oppose Loophole Extensions that Could Cost $600 Billion Reflecting growing public demand for tax fairness, 58 national organizations yesterday sent a letter to Congress urging it to reject the extension of three corporate tax loopholes that could cost up to $600 billion […]
Major corporations enjoying record profits from low tax rates and inflated prices are lobbying Congress to renew three major tax breaks before the end of the year, two that expired this year and a third expiring next year. These tax giveaways—which could cost $600 billion in lost revenue if extended over 10 years—were given expiration […]
Congress Should Reinstate The Top Corporate Tax Rate To 35% The 2017 Trump-GOP tax law slashed the corporate tax rate from 35% to 21%—the lowest top rate in eighty years and a lower marginal rate than a worker making $45,000 a year pays. This corporate-rate cut is by far the single most expensive part of […]
Dear Member of Congress: We urge you to oppose the inclusion of corporate tax breaks in any lame-duck legislative package. At a time when corporations are making record-high profits while paying record-low taxes as a share of the economy, and when corporate price gouging is helping to fuel inflation, corporations should start paying more of […]
At least half a dozen big corporations lobbying Congress to slip a tax cut into an upcoming must-pass omnibus budget bill have paid little or no federal income taxes over the past three years, an analysis released today by Americans for Tax Fairness (ATF) reveals. Last week, a group of prominent corporate CEOs organized as […]
November 29, 2021
6 REASONS FOR THE CORPORATE PROFITS MINIMUM TAX
The Corporate Profits Minimum Tax (CPMT) will ensure that big corporations making the most profits pay a reasonable amount of tax every year—without eliminating critical incentives for research, clean energy and affordable housing. In 2020, 55 big firms— including FedEx, Nike and Salesforce.com—paid zero federal income tax, despite over $40 billion in combined profits. Dozens […]
June 11, 2021
THE CASE FOR A 28% CORPORATE TAX RATE
TOPLINES Raising the corporate tax rate from 21% to 28%, as President Biden proposes, is a moderate reform that would raise nearly $900 billion for vital public investments—including many helpful to business. Because of loopholes, most corporations are not paying the 21% rate, let alone paying anything close to their fair share of taxes. Last […]
Dear Member of Congress, We write to express our support for the No Tax Breaks for Outsourcing Act (S.___ / H.R.___), which would eliminate harmful incentives to move the corporate tax base as well as real operations – American jobs and investment – offshore. The bill would ensure that U.S. multinational corporations pay at least […]
by Frank Clemente, Executive Director of Americans for Tax Fairness On behalf of Americans for Tax Fairness and its coalition of more than 400 endorsing organizations, I write to submit testimony for the record for the committee hearing on Tuesday, February 11— “The Disappearing Corporate Income Tax.” We commend the committee for having this […]
House Panel Urged to Spotlight Puny Raises, Slow Growth, Collapsing Investment from Corporate Cuts Benefitting Huge Firms While Losing a Fortune in Federal Revenue Corporate tax cuts at the center of 2017’s Tax Cuts and Jobs Act (TCJA) have failed to deliver the boost to workers and the economy promised by its Republican backers two […]