John,

Last year, thanks to your advocacy, President Biden signed into law a 15% corporate profits minimum tax on billion dollar corporations, but highly paid corporate lobbyists are doing everything they can to maintain tax loopholes abused by greedy corporations.

If we had a 15% corporate tax in 2021, it could have raised as much as $8.3 billion in taxes from Warren Buffett’s Berkshire Hathaway, $2.7 billion from Amazon, $1.8 billion from Ford Motor Company, and $1.5 billion from AT&T.¹

That’s $14.3 billion that could be invested back into communities and into human needs programs like SNAP, Head Start, LIHEAP, housing assistance, and other vital services.

The U.S. Treasury Department is currently finalizing the rules on how the corporate tax will be implemented, but high-priced corporate lobbyists are fighting back. We cannot allow major corporations to continue to get away with not paying their fair share of taxes.

ADD YOUR NAME to tell the Biden administration we support their 15% corporate profits minimum tax and want them to stand up to billion dollar corporations and their lobbyists seeking to maintain egregious tax loopholes.

Together, we’re holding greedy, tax dodging corporations accountable. Because when we do, we can invest in a future that includes everyone, not just the wealthy few.

Thank you for all you do,

Meredith Dodson
Senior Director of Public Policy, Coalition on Human Needs

¹ Americans for Tax Fairness

-- DEBORAH'S EMAIL --

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.