John,

Last year, we wrote to you about a new report from Sen. Bob Casey (D-PA) on “greedflation”―the difference between inflation and what businesses are charging consumers. According to Senator Casey’s report, greedflation is costing the average American family over $3,000 a year.[1]

What are corporations doing with their obscene profits, made on the backs of working people? Recent Americans for Tax Fairness research using ITEP data shows that at least 35 large profitable corporations, including Tesla and T-Mobile, paid their top 5 executives more in compensation over a recent five-year period than they paid in federal income taxes.[2]

Now, we’re highlighting the latest corporate maneuver that stuffs corporate coffers at the expense of everyday people: Shrinkflation

This is where corporations quietly shrink the size of their products and services but charge the same price as before. President Biden even highlighted shrinkflation in a video released during the Super Bowl.

To combat this latest act of corporate greed, we’re joining with allies in demanding Congress pass Senators Elizabeth Warren and Bob Casey’s new Shrinkflation Prevention Act, which would direct the Federal Trade Commission (FTC) to create regulations making shrinkflation an unfair or deceptive act or practice. It would also prohibit manufacturers from engaging in shrinkflation and authorize the FTC and state attorneys general to bring civil actions against corporations that engage in it.

Combat corporate greed by sending a message to your senators and representative today urging them to pass the Shrinkflation Prevention Act to protect the American people from the seemingly unlimited greed of Corporate America.

In addition to the Shrinkflation Prevention Act, we’re advocating for policies that make large profitable corporations pay their fair share in taxes, like raising the corporate tax rate from 21% to 35%, raising the stock buyback tax from 1% to 4%, and demanding Congress close loopholes that allow corporations to shift jobs and profits offshore.

At a time when working people are just scraping by and large profitable corporations are using record profits to enrich CEOs and shareholders instead of rewarding workers, let’s keep fighting for a future that values all of us, not just the wealthy few.

Thank you for taking action today,

David Kass
Executive Director
Americans for Tax Fairness Action Fund

[1] Stuffing Their Pockets: How Big Food and Agriculture Businesses are Making Your Holiday Meals More Expensive
[2] More for Them, Less for Us