November 2, 2023
MAGA Republicans’ Proposed Debt Commission
House Republicans, led by MAGA extremist Speaker Mike Johnson, have proposed a “debt commission” to tackle what they’re calling a “debt crisis.” Republicans want to blame “spending” for the debt, but in reality it was their tax cuts for the wealthy and corporations that starved us of revenue and added trillions to the deficit. A […]
October 11, 2023
Increasing Deficit Can Be Traced to GOP Tax Cuts
Giveaways to Rich & Corporations Under Bush & Trump Have Caused Over Half Of Budget Shortfalls This Century Today’s monthly budget report again demonstrates that the federal deficit has been largely driven by tax cuts for the rich and corporations enacted by Republican politicians over the past 22 years. The clear answer to rising debt […]
Now House Republicans Hope to Use a Government Shutdown to Gut IRS’s Newly Restored Focus on Rich Tax Cheats Recently published data from the Internal Revenue Service (IRS), analyzed by Americans for Tax Fairness (ATF), reveals that during the last year of the Trump administration—2020—working families receiving the Earned Income Tax Credit (EITC) were audited at […]
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 […]
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 […]
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 […]
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 […]