Obama Should Use SOTU To Call For Closing Corporate Loopholes, Increase Revenues
With budget and tax issues likely to be at the forefront of tonight’s speech, Frank Clemente, head of Americans for Tax Fairness, released the following statement in advance of the State of the Union:
“We need President Obama to clearly state tonight that his jobs and economic agenda includes closing corporate tax loopholes and using the revenues to reduce the deficit and make new investments, not to reduce corporate tax rates. Too many corporations pay little or nothing in federal income taxes because they use huge loopholes to avoid taxation. If President Obama and Congress is serious about putting America back to work they will bring in more revenue by making these corporations pay their fair share.
“Facts are facts, and despite what conservatives in Congress may think, nearly every leading economist agrees we can’t solve our budget problems without more revenue. It’s not political rhetoric, a partisan position or even economic theory. It’s math. It is far past time for Republican leaders in Congress to accept this reality.”
Next week, during the Congressional Recess, a national day of action with thousands of Americans from coast-to-coast will be calling for more revenue.