June 9, 2020 Dear Senator: As you consider the next coronavirus relief and recovery legislation, we urge you to support repeal of costly tax breaks for millionaire business owners and corporations contained in the CARES Act and to oppose any other tax cuts for the rich and corporations in future COVID-19 relief and recovery bills. […]
House Passage Claws Back ‘Millionaires Giveaway’ in CARES Act; Big Win for Tax Fairness Cleansing not only the CARES Act but the 2017 GOP tax law as well of a huge tax handout to wealthy business owners, the House of Representatives today passed the pandemic-relief HEROES Act, which would repeal the notorious “Millionaires Giveaway.” While […]
HEROES Act Would Close $135 Billion Loophole for Rich Opened by CARES Act Proving the power of an outrage-fueled reform effort, a $135 billion tax handout to the rich slipped into the coronavirus relief law enacted in March is slated for repeal in the latest pandemic measure unveiled yesterday by House Speaker Nancy Pelosi. The […]
In recent days since it was unveiled that millionaires, hedge fund owners and real estate developers were receiving a $135 billion tax break in the coronavirus relief package known as the CARES Act, momentum to repeal the provision has surged with both the U.S. Senate and House of Representatives taking action. The Millionaires Giveaway was […]
43,000 Millionaires, Maybe Trump, Get $1.6M Average Windfall This Year, Dwarfing Average American’s $1,200 Check; Billions Wasted As State And Local Governments Struggle Leading members of Congress and a broad coalition of advocacy groups under the Americans for Tax Fairness umbrella have launched a campaign to repeal a huge tax break for millionaires included in […]
Rich Business Owners—Maybe Including Trump—Allowed Costly Break on Old Losses Little noticed when the $2.2 trillion Coronavirus rescue package was enacted were two expensive tax breaks for corporations and wealthy business owners snuck into the CARES Act that are starting to garner critical attention and opposition. Joe Biden is just one political leader pushing back […]
Wealthy Business Owners Allowed to Transform Pre-Crisis Losses Into Gains A tax fairness watchdog today blasted two little-noticed provisions in the recently enacted Coronavirus economic rescue package that hand wealthy business owners and corporate shareholders about $200 billion in tax breaks. In a letter to members of Congress, Americans for Tax Fairness (ATF) called for […]
Financial Aid Bill Contains $280 Billion in Business Tax Breaks—Half the Aid Goes to Business, Only a Quarter to Families, & a Big Break for Wealthy Business Owners Like Trump America’s unprecedented health and economic emergencies demand quick enactment of the coronavirus aid package passed by the U.S. Senate, but the flaws in that bill […]
Letter from 72 National Organizations March 18, 2020 Dear Member of Congress: We write to urge an aggressive response to the economic and societal impact of the novel coronavirus outbreak, but caution against allowing this national emergency to be used to demand tax cuts that will be poorly targeted, lack the biggest bang-for-the-buck and favor […]
Major candidates in Democratic presidential field offer fiscal plans many times the size of Clinton’s in 2016 Five leading candidates for the Democratic presidential nomination who have announced detailed revenue and investment plans all proposed much more robust plans than Hillary Clinton offered in 2016, showing how far the debate has shifted in the progressive […]