John,

Last year, we fought for and won a 15% corporate profits minimum tax on billion dollar corporations―because massive corporations like Amazon and FedEx shouldn’t get away with paying little or nothing in federal income taxes on their massive profits.

But now, just as the Treasury Department is finalizing the rules on how the corporate tax will be implemented, high-priced corporate lobbyists are trying to kill the new law by maintaining tax loopholes abused by greedy, tax dodging corporations.[1]

Sign now to tell the Biden administration and the Treasury Department to stand firm against corporate lobbyists and keep the tax on billion-dollar corporations strong.

ADD YOUR NAME

Estimates suggest that the 15% corporate profits minimum tax would raise over $220 billion in tax revenue over 10 years.[2] In fact, if we had had a 15% corporate tax in 2021, it could have raised as much as $14.3 billion just from Warren Buffett’s Berkshire Hathaway, Amazon, Ford Motor Company, and AT&T combined.[3]

According to a new report from the Washington Post, Amazon, Ford, AT&T, and FedEx are among the corporations lobbying to gut the new law so they can go on dodging their fair share of taxes. So is Duke Energy, which announced this summer―the hottest on record―that it was significantly raising rates on consumers. At the same time, Duke Energy’s CEO saw her salary jump to $21.35 million in 2022, up almost 30% from 2021.[4]

At a time when corporations are price-gouging consumers while paying executives astronomical salaries, it’s time they started contributing their fair share of taxes.

Sign now to tell the Biden administration that you support a 15% corporate profits minimum tax on billion-dollar corporations and you want them to close more tax loopholes so that major corporations are paying more of their fair share.

We know that when corporations pay their fair share in taxes, we can invest in critical services for working families, from housing to healthcare to childcare and more.

Thank you for taking action today,

David Kass
Executive Director
Americans for Tax Fairness Action Fund

[1] “Biden wants rich companies to pay higher taxes. Some are fighting back.” The Washington Post, Aug. 18, 2023
[2] “Tax Fairness Reforms In the Inflation Reduction Act” Americans for Tax Fairness, Sept. 13, 2022
[3] https://twitter.com/4TaxFairness/status/1691560868822016148?s=20
[4] “Rate Increases and Blackouts: Duke Energy’s Strategy for 2023,” Natural Resources Defense Council, Apr. 6, 2023

Sent via ActionNetwork.org. To update your email address, change your name or address, or to stop receiving emails from Americans for Tax Fairness Action Fund, please click here.