John,

Congress should put children over corporations. But that’s not what we’re seeing in the Republican-led House of Representatives.

Even as billion-dollar corporations continue to price gouge the American people in order to pad their profits for wealthy investors, Republicans are preparing to pass a list of corporate tax cuts that undermine our ability to invest in working people. They say we can’t afford investments in children and families, but they’re more than happy to shower their wealthy campaign contributors with outrageous tax breaks.

At the end of 2021, Republicans allowed the expanded Child Tax Credit to expire―a tax credit that had lifted nearly 4 million children out of poverty. After it was allowed to expire, child poverty spiked from 5.2% in 2021 to 12.4% in 2022.[1]

Sign now to demand Congress renew the expanded Child Tax Credit this year, not renew and expand corporate tax breaks for billion-dollar corporations.

ADD YOUR NAME

Instead of investing in children and families, House Republicans―at the urging of their Wall Street benefactors―are pushing to enact three major corporate tax loopholes before the end of this year:

Changing the Research & Experimentation tax deduction to allow corporations to write off research expenses all at once instead of more realistically over time. Cost = $155 billion over 10 years
Extending 100% Bonus Depreciation, which would allow corporations to write off immediately the full cost of assets that hold their value a long time. Cost = $250 billion over 10 years
Expanding the Net Interest Deduction tax break to allow corporations to deduct a bigger share of their interest costs from borrowing money by changing how the deduction is calculated. Cost = $200 billion over 10 years

With Bonus Depreciation alone, 25 major corporations including Google, Facebook, Intel, UPS, Target, and PepsiCo have saved nearly $67 billion in taxes since 2018. That’s money that should be used to lower costs for working families, not pad the pockets of wealthy investors.

Add your name now and demand Congress renew the expanded Child Tax Credit, not pass even more tax breaks for billion-dollar corporations.

Together, we’re fighting for a tax system that invests in working families instead of further enriching the wealthiest 1%.

Thank you for taking action today,

David Kass
Executive Director
Americans for Tax Fairness Action Fund

[1] “Income, Poverty and Health Insurance Coverage in the United States: 2022,”United States Census Bureau, Sept. 12, 2023

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