John,

Recently the CEO of Clorox—which also sells Burt’s Bees skincare products, Brita water filters, and other brands—said they have no plans to reduce prices, even as inflation costs fall: “We intend for these price increases to stick.”¹

Major corporations continue to price gouge the American people, blaming it on inflation. All the while, they’re seeing record high profits and paying hardly any taxes, if at all. In 2020, 55 of the largest corporations in the U.S. paid $0 in federal taxes, despite having substantial pre-tax income. If those corporations had paid their share of taxes, it would have amounted to $8.5 billion in revenue for the federal government.²

Last year, to fight back against greedy tax dodging corporations, Congress passed a 15% minimum tax on billion dollar corporations. This was done to stop major corporations like Amazon and FedEx from paying nothing in taxes. But lobbyists representing major corporations are fighting to maintain tax loopholes abused by these tax dodging corporations.

Teachers, firefighters, and other workers shouldn’t pay more in taxes than multi-billion dollar corporations. Tell the Biden administration to stay firm against corporate lobbyists who are seeking to maintain these egregious tax loopholes. It’s time for billion dollar corporations to pay their fair share in taxes!

Major lobbying firms that represent corporations such as AT&T, Duke Energy, and Ford Motor Company have put pressure on Congress and the Treasury Department to push for changes that would reduce corporations’ tax liability. Some utility corporations are even threatening to raise prices on consumers.³

When corporations pay their fair share in taxes, we can invest in critical programs for our families and communities, including health care, housing, child care, nutrition, and more. The $8.5 billion that 55 corporations managed to avoid paying in 2020 could have been used to strengthen programs that helped people in the early stages of the pandemic, keeping children and families housed and fed, ensuring access to health care including vaccines and COVID tests, and more.

Every day we see more and more people struggling to get by while human needs programs face drastic cuts. Making corporations pay their fair share of federal taxes isn’t a punishment, it’s their contribution to a society that has given them so much.

Right now, the U.S. Treasury Department is finalizing the rules that will dictate how new corporate taxes will be implemented. Tell the Biden administration: we support their efforts to stand up to corporate lobbyists and ensure billion dollar corporations are paying their fair share in taxes.

Thank you for all you do,

Deborah Weinstein
Executive Director, Coalition on Human Needs

¹ How Long Will Companies Keep Raising Prices on Consumer Goods?
² 55 Corporations Paid $0 in Federal Taxes on 2020 Profits
³ Biden wants rich companies to pay higher taxes. Some are fighting back.