Today, the billionaire-backed GOP Senate majority voted down Senator Ron Wyden’s resolution of disapproval for IRS Notice 2025-28 under the Congressional Review Act. The resolution condemned the Trump administration’s guidance undermining the Corporate Alternative Minimum Tax (CAMT)—a law ensuring the nation’s most profitable corporations pay federal income tax. The Administration’s proposed guidance creates loopholes in how the law treats corporate partnership income, circumventing Congress and enabling corporate tax evasion while increasing the deficit and further favoring the wealthy and large corporations. In response, David Kass, Americans for Tax Fairness Executive Director, released the following statement.

“After passing historic tax giveaways for billionaires and big business through the One Big Beautiful Bill Act (OBBA), blowing up the deficit, and cutting billions from critical healthcare and nutrition programs to pay for it, Trump and his GOP allies in the Senate are taking every opportunity to ensure economic elites can avoid paying their fair share. This guidance would effectively circumvent Congress and create numerous opportunities for corporate tax evasion while increasing the deficit and national debt, thus creating more imbalance in a tax code that already favors the wealthy and large corporations. Senator Wyden is right to lead the charge to stop this guidance—average Americans should not be forced to subsidize some of the most profitable companies on earth.”