September 28, 2023
Billionaires Are $2.2 Trillion Richer Since 2017 Trump-GOP Tax Law
Richest 748 Americans’ Wealth Up 77% Since Cuts Passed, Tops $5 Trillion; Debt Caused by Trump Tax Cuts Now Used By GOP As Excuse to Cut Services The collective fortune of America’s 748 billionaires topped $5 trillion in September 2023, a near record high, and up an astounding $2.2 trillion (77%) since enactment of the […]
Ford & GM Savings Went In Part to Huge Compensation for Executives & Boards The two U.S.-based automakers claiming they can’t afford union demands for better pay certainly can’t blame their tax bills: over the past five years Ford and General Motors have paid an average combined tax rate of just 1% on over $42 […]
One year ago today, enactment of President Biden’s Inflation Reduction Act (IRA) brought our nation a step closer to genuine tax fairness. And since the roughly $500 billion the IRA will raise over the next decade exclusively from the rich and corporations will fund critical responses to the climate crisis, it also brought us a […]
House Tax-Writing Panel Extends Costly Business Loopholes After Republicans Demanded Vital Services Be Cut in Debt-Limit Deal Americans for Tax Fairness executive director David Kass today released the following statement after the House Ways and Means Committee approved on a party-line vote the GOP Tax Scam 2.0, a partisan package of tax cuts heavily tilted to […]
Two federal tax provisions meant to boost company research—the Research and Experimentation (R&E) tax deduction and the Research Tax Credit—are often conflated. Adding to the confusion, the research activities supported by both provisions are often referred to interchangeably as “research and development (R&D)” or “research and experimentation (R&E).” Either R&D or R&E are acceptable in […]
New Report Shines Spotlight on Republicans’ Fraudulent Claim That They Are The Party of “Deficit Reduction” WASHINGTON, D.C. – Permanently extending expired and expiring parts of the 2017 Trump-GOP tax law—as Republican leaders have promised to do—would add at least $3.5 trillion to the national debt over the next decade (including $370 billion in increased borrowing […]
Dear Member of Congress: The current budget-deficit debate in Washington, like too many fiscal debates over the past 40 years, has been dominated by Republican demands to cut spending on Social Security, Medicare, Medicaid, education, housing, nutrition programs, and much more. Our organizations are fundamentally opposed to holding the debt limit and budget issues hostage. […]
March 3, 2023
Why We Need a 4% Stock Buyback Tax
Huge corporations waste hundreds of billions of dollars each year further enriching their top executives and wealthy shareholders with stock buybacks, rather than improving worker pay and benefits or investing in their businesses and communities. President Biden and Congressional Democrats took the first step in curbing this behavior while also raising revenue to support working […]
Key parts of the 2017 Trump-GOP tax law, including individual income and estate-tax cuts, will expire at the end of 2025, but House Republicans want to permanently renew them. In 2017, President Trump and the GOP Congress designed their so-called Tax Cuts and Jobs Act (TCJA) so that major provisions that primarily affect individuals would […]
February 14, 2023 Dear Member of Congress: We write on behalf of Americans for Tax Fairness—a coalition of over 450 endorsing organizations dedicated to creating a fairer tax system—to urge your support for Rep. Lloyd Doggett’s Assuring Medicare’s Promise Act (H.R. 34). This vital bill would benefit over 65 million older and disabled Americans who […]