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John,
Tonight, President Joe Biden will take center stage as the keynote speaker at the opening night of the Democratic National Convention. It's a pivotal moment for our movement, as Biden is set to highlight the economic achievements we've fought so hard for together.
From his first day in office, President Biden has pushed for a fairer tax system that works for all Americans, not just the wealthy few. And under his leadership, we've seen real progress.
The Inflation Reduction Act (IRA) enacted by the Biden-Harris administration in 2022 included some of the biggest progressive tax reforms in recent history. Thanks to the IRA’s restored funding for IRS tax enforcement, we’re able to finally crack down on wealthy tax cheats. We've implemented a new tax on stock buybacks, discouraging corporate greed and encouraging worker investment. And for the first time, we have a corporate minimum tax ensuring that large profitable companies can't use loopholes to avoid paying their fair share in taxes.
President Biden has proposed many more reforms, including bold measures like the Billionaire Minimum Income Tax. This would ensure that the wealthiest Americans pay at least 25% in taxes on their full income, including unrealized capital gains.[1]
As President Biden addresses the nation, let’s thank him for leading the fight to build a more equitable economy for working people.
Add your name to thank President Biden for his commitment to tax fairness and his efforts in fighting for working families.
When Biden took office, the tax system had been rigged in favor of the ultra-wealthy and big corporations for decades. But together, we've started to turn things around. The IRS has already collected $1 billion in back taxes from millionaire tax cheats―money that can now be invested in critical services that benefit all Americans.[2]
The new 1% tax on stock buybacks is changing corporate behavior, encouraging companies to invest in their workers and communities rather than artificially inflating their stock prices.[3] And thanks to the 15% corporate minimum tax, we're finally closing the loophole that allowed some of America's most profitable companies to pay zero federal income taxes.[4]
These are concrete victories that are making a real difference in people's lives. But powerful special interests are already pushing back, trying to undo our progress. They're pouring millions into lobbying efforts to maintain the status quo and keep their tax bills low.
That's why your voice matters now more than ever. By thanking Biden for his leadership on tax fairness, you're sending a clear message that the American people want more―not less―action to hold the wealthy and corporations accountable.
Sign our petition thanking President Biden for fighting for his achievements in pushing for tax justice.
Together, we can build an economy that works for all of us.
David Kass
Executive Director
Americans for Tax Fairness Action Fund
[1] Billionaire Minimum Income Tax
[2] IRS collects milestone $1 billion in back taxes from high-wealth taxpayers
[3] U.S. Department of the Treasury and IRS Release Proposed Guidance on Stock Buyback Excise Tax to Ensure Large Corporations Pay More of Their Fair Share in Taxes
[4] Details and Analysis of President Biden’s Fiscal Year 2025 Budget Proposal
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