Read the full report here. Introduction All but a handful of 280 large, profitable corporations spent more money making their wealthy shareholders richer through dividends and stock buybacks than they paid in federal income taxes in the five years after the enactment of the Trump-GOP tax law, according to a new analysis by Americans for […]
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 […]
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 […]
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 […]
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 […]
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. […]
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 […]
Dear Member of Congress: We urge you to oppose the inclusion of corporate tax breaks in any lame-duck legislative package. At a time when corporations are making record-high profits while paying record-low taxes as a share of the economy, and when corporate price gouging is helping to fuel inflation, corporations should start paying more of […]