Among the most important progressive tax reforms proposed by the Biden-Harris administration is the Billionaire Minimum Income Tax (BMIT), which is a special tax on the handful of wealthiest households in the country, some of whom go entirely tax-free some years and pay relatively little in many others. The BMIT would only apply to the […]
August 27, 2024
TALKING TAXES: On C-SPAN, ATF Chief Engages The Public
Kass Discusses Trump-GOP Tax Law, Biden-Harris Tax Plan, Billionaire Taxation & More With Democratic, Republican & Independent Callers to ‘Washington Journal’ WASHINGTON – Proving tax policy is an important and popular topic among the American people, Americans for Tax Fairness (ATF) executive director David Kass recently fielded questions on the subject from callers from across […]
Though most of the 2017 Trump-GOP tax law expires at the end of 2025, certain provisions governing how corporations deduct expenses have already expired. These changes have resulted in corporations paying higher taxes over the past few years, so Republicans want to retroactively reverse them as part of their effort to permanently extend the whole […]
Congress Should Reinstate The Top Corporate Tax Rate To 35% The 2017 Trump-GOP tax law slashed the corporate tax rate from 35% to 21%—the lowest top rate in eighty years and a lower marginal rate than a worker making $45,000 a year pays. This corporate-rate cut is by far the single most expensive part of […]
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. […]