John,

Between 1993 and 2017, the top corporate tax rate was 35% and corporations thrived, regularly racking up record profits. Then came the Trump-GOP tax scam, which slashed the corporate tax rate nearly in half and opened up a host of loopholes that have allowed large profitable corporations to avoid paying their fair share of taxes ever since.

In fact, in 2018, the first year the tax scam was in effect, 34% of large profitable corporations paid $0 in federal income taxes.[1]

Thanks to you, during the first two years of the Biden administration, when Democrats controlled both bodies of Congress, we started to close some of those loopholes. Biden and his fellow Democrats enacted a corporate profits minimum tax on billion-dollar corporations, ensuring the most profitable corporations never pay less than 15% in federal income taxes. They also created a 1% tax on corporate stock buybacks, which corporations use to inflate the price of their stock, enriching wealthy investors instead of investing in worker pay and benefits. But there is much more to do.

That’s why, last month nearly 20,000 people took action, adding their names as grassroots co-sponsors of the Corporate Tax Dodging Prevention Act, introduced by Senator Bernie Sanders and Representative Jan Schakowsky.

Now, we’re joining with allies, sending messages directly to Congress, urging them to pass this critical legislation, which would raise more than $2.3 trillion in tax revenue over 10 years by raising the corporate tax rate and closing loopholes abused by large profitable corporations.

Click here to send a message directly to your senators and representative urging them to pass the Corporate Tax Dodging Prevention Act to help unrig our tax code and ensure big corporations are paying their fair share of taxes.

Together, we are building our national movement to unrig our tax code and make the wealthy and corporations pay their fair share.

Maura Quint
Campaign Director
Americans for Tax Fairness Action Fund

[1] NEWS: GAO Study Finds 34% of Large, Profitable Corporations Pay Zero in Federal Income Taxes

-- DAVID’S EMAIL --

John,

We recently told you about a new bill in Congress, introduced by Senator Bernie Sanders and Representative Jan Schakowsky: the Corporate Tax Dodging Prevention Act.[1] Nearly 20,000 people have added their names as grassroots co-sponsors, urging Congress to act.

Now, we’re taking our campaign to the next level. We’re joining with allies across the country, sending messages directly to members of Congress, urging them to pass this critical legislation that would:

• Stop corporations from sheltering profits in tax havens like the Cayman Islands and Luxembourg

• Eliminate tax breaks for companies that ship jobs overseas

• Close loopholes in the tax code that allow corporations to get away with paying little to nothing in taxes

• And, restore the top corporate tax rate to 35%, where it was before the Trump-GOP tax scam cut it to 21%

The Corporate Tax Dodging Prevention Act would raise more than $2.3 TRILLION in new tax revenue over 10 years―money that could be used to lower costs for working people of essentials like healthcare, nutrition, housing, and education.

Click here to write to your senators and representative, urging them to pass the Corporate Tax Dodging Prevention Act to help unrig our tax code and require large profitable corporations to pay their fair share of taxes.

The 2017 Trump-GOP tax scam further rigged our economy in favor of big corporations, cutting the corporate tax rate nearly in half while adding more loopholes that allow corporations to dodge taxes. We need a tax code that puts working people first, not major corporations.

Upon introduction of his bill, Senator Bernie Sanders said:

“As working people struggle to pay rent and put food on the table, we have a corrupt and rigged tax code that is designed to benefit the wealthy and the powerful at the expense of working families ... American workers should not be paying more in federal income taxes, in a given year, than profitable companies like Target, Amazon and T-Mobile.”

Take action today! Write to your senators and representative and urge them to pass the Corporate Tax Dodging Prevention Act to ensure large profitable corporations start paying their fair share in taxes.

Together, we must keep fighting for a tax system and economy that work for everyday people, not just corporations and those at the top.

Thank you,

David Kass
Executive Director
Americans for Tax Fairness Action Fund

[1] NEWS: Sanders Introduces Legislation to Ensure Corporations Finally Pay Their Fair Share in Taxes