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John,
Late on Friday, Republicans released a tax package that renews three corporate tax cuts from the Trump tax scam, which will cost us billions of dollars in lost revenue.
The reality is, corporations don’t need even more tax breaks. They’re already paying far too little.
Under President Obama, corporations paid an effective tax rate of 16%, but that was cut to just 9% after Republicans passed the Trump tax scam in 2017. This has resulted in corporate taxes, as a share of federal revenue, at less than half of what they were 50 years ago.
Check out our latest infographic below, which shows the effective tax rate of 6 billion-dollar corporations, then donate today to bring it to voters across the country and fight back against a Republican tax bill that hands even more tax breaks to wealthy corporations on the backs of working people.
Together, we’re shining a spotlight on Republican plans to enrich their millionaire and billionaire campaign contributors and the corporations behind them.
Andrea Haverdink
Digital Director
Americans for Tax Fairness Action Fund
-- David's email --
John,
Immediately after demanding deep cuts to programs for working families in debt ceiling negotiations, House Republicans have now released their tax plan to hand billions of dollars in tax cuts to corporations and their wealthy owners.
Just one of these corporate tax breaks has already saved Verizon more than $5 billion over the first four years it was in effect, Google nearly $5 billion, and Facebook (Meta) almost $4 billion.[1]
Help bring our latest infographic to voters across the country and fight back against Republican attempts to make this corporate Trump tax scam giveaway permanent. Donate today!
Republicans’ goal is to slash taxes for the wealthy and corporations―and to do so on the backs of working families.
Kevin McCarthy has already called for creating a commission to further cut supports for working families. And Republicans want to pay for their corporate tax handouts by revoking green energy tax credits from last year’s Inflation Reduction Act, which are meant to speed the U.S. transition away from fossil fuels and toward renewable energy sources.
With Republicans preparing to act on their tax bill, rush a contribution today to bring our latest infographic to voters and show them how House Republicans are handing billions of dollars in tax breaks to corporations that are already paying far too little.
If you've saved your payment information with ActBlue Express, your secure donation will go through immediately:
Thank you for fighting back against attempts to further rig our tax system to benefit the rich and powerful at the expense of working people.
David Kass
Executive Director
Americans for Tax Fairness Action Fund
[1] “Twenty-Three Corporations Saved $50 Billion So Far Under Trump Tax Law’s ‘Bonus Depreciation’ that Many Lawmakers Want to Extend,” Institute on Taxation and Economic Policy, Nov. 10, 2022
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