Those firms not only paid less to the federal government than their top bosses between 2018-22— they paid less than nothing to Uncle Sam, instead receiving almost $2 billion in cumulative refunds. Dozens of big profitable corporations paid their top executives more in compensation than they paid in federal income taxes over a recent five-year […]
March 5, 2024
State Of The Union Talking Points On Tax Fairness
President Biden is calling on Congress to pass a Billionaire Minimum Income Tax to end the scandal of billionaires and other super-wealthy individuals paying a lower tax rate than teachers, nurses and firefighters—and sometimes paying nothing at all. It’s time to reward work, not wealth. As of the end of last year, the wealth of […]
February 7, 2024
Big Corporations Paid Shockingly Little In Taxes Last Year
New Data Reveal 5 Huge Firms—GE, GM, Meta, Tesla & T-Mobile—Paid Super Low Rates Or Even Got Refunds Despite Billions in Profits WASHINGTON – Some of America’s marquee corporations with billions in profits each—General Electric, General Motors, Meta (owner of Facebook), Tesla and T-Mobile—paid little in federal income taxes last year and in some cases […]
Big corporations are lobbying Congress to extend the Trump-era bonus depreciation rules that allowed them to immediately write off 100% of their eligible costs each year through 2022. They claim that without this tax cut (which they seek to make retroactive to the beginning of 2023), they will be forced to roll back business investments. […]
After passing historic corporate tax reform in the Inflation Reduction Act in 2022, Congress now risks erasing those tax-fairness gains with expensive new corporate tax breaks. A package of bills reported out by the House Ways & Means Committee on a party line vote in May would extend—at a long-term cost of over $1 trillion—three […]
House Republicans want to reverse a provision of the 2017 Trump-GOP tax law that limits the ability of corporations to cut their taxes by deducting interest payments from their taxable income. This expanded loophole would cost up to $200 billion in lost revenue over 10 years and boost the fortunes of Wall Street raiders who […]
Sticking to his commitment since the 2020 campaign to make the rich and corporations start paying their fair share of taxes and use that money to create an economy that works for all of us, President Biden today released a budget that would raise $4 trillion in tax revenue over the next ten years and […]
January 11, 2022 Americans for Tax Fairness, a coalition of hundreds of national and state endorsing groups, urges you to vote NO on legislation being rushed through the U.S. House today that would repeal critical tax enforcement funding enacted last year with the support of every House and Senate Democrat. The legislation will help hold […]
ATF URGES HOUSE TO VOTE NO ON GOP BILL TO PROTECT RICH & CORPORATE TAX CHEATS January 3, 2022 Americans for Tax Fairness, a coalition of hundreds of national and state endorsing groups, urges you to vote NO on legislation being rushed through the U.S. House today that would repeal critical tax enforcement funding enacted […]
On the Other Hand, Congress Is About to Give More Tax Breaks to the Wealthy Saving for Retirement While Giving Crumbs to Working People In a victory for tax fairness, Congress has rejected in the newly released omnibus spending package the renewal of three major tax breaks urgently sought by big corporations, which were part […]