John,

This Friday marks the second anniversary of the Inflation Reduction Act (IRA), a landmark piece of legislation that took significant steps toward making our tax system fairer. The IRA introduced crucial reforms like imposing a minimum tax on billion-dollar corporations and creating a tax on wasteful stock buybacks.[1]

But our fight for tax justice is far from over. As we approach the Democratic National Convention, we have a golden opportunity to build on the IRA's success and push for even bolder action on tax fairness.

The DNC's draft platform already includes some great proposals, like making billionaires pay a minimum income tax rate of 25% and ending preferential treatment for capital gains for millionaires.[2] However, we need to ensure these commitments translate into concrete action.

That's why we're calling on DNC Chair Jaime Harrison to make tax fairness a top priority at the upcoming convention. We need a clear message that Democrats will fight against tax cuts for the rich and corporations, and instead make them pay their fair share through bold progressive reforms.

Tell DNC Chair Jaime Harrison: Make tax fairness a priority at the DNC Convention!

The IRA has already shown us what's possible when we prioritize tax fairness. The law’s corporate minimum tax is projected to raise $222 billion over the next decade and end the scandal of tax-free billion-dollar corporations. The stock buyback tax, initially expected to raise $74 billion, is now forecast to generate $107 billion by 2029.

But Republican efforts to undermine these gains are relentless. They're pushing to make the 2017 Trump tax cuts permanent, which would cost a staggering $5 trillion over the next decade.[3] We can't let this happen.

The DNC platform's proposals, including doubling the tax rate on foreign earnings of U.S. multinationals and eliminating fossil fuel subsidies, are a huge step in the right direction. But we need to ensure these commitments are front and center at the convention.

By making tax fairness a key issue, we can energize Americans and draw a clear contrast with the GOP's agenda of tax cuts for the wealthy and corporations.

Join us in calling on DNC Chair Jaime Harrison to prioritize tax fairness at the upcoming convention.

Together, we can build on the success of the IRA and create a truly fair tax system.

Thank you for taking action,

David Kass
Executive Director
Americans for Tax Fairness Action Fund

[1] Reviewing the Major Tax Reforms in the Inflation Reduction Act on Its Second Anniversary [2] DRAFT Democratic Party Platform  
[3] CBO: Extending Trump Tax Cuts Will Cost Nearly $5 Trillion