Four years ago, Donald Trump and congressional Republicans — with Senator Mitch McConnell leading the charge — rammed through a regressive tax law that overwhelmingly benefited billionaires and Big Business.

• Officially named the “Tax Cuts and Jobs Act of 2017,” it should have been called the “Rich Get Richer and the Rest of Us Get Stiffed” law.

• Perhaps most egregiously, Trump and McConnell slashed the official corporate tax rate from 35% down to 21% — the lowest it has been since the Great Depression.

• Of course, many corporations exploit “loophole” after “loophole” to get away with paying far less than that, or even nothing at all.

Now — as part of President Biden’s infrastructure plan — Democrats have a chance to restore some balance and push Corporate America to pay something closer to its fair share.

The least we should do is bring the corporate tax rate back up to where it was (35%) before Trump and McConnell slashed it.

But President Biden’s proposal is far more modest, raising the corporate tax rate to just 28%.

Predictably, Big Business is whining that this is unfair and counterproductive. (Including many of the same corporations currently getting accolades for their supposed commitment to social justice.)

And there’s talk of accepting a “compromise” corporate tax rate of just 25%.

Tell President Biden:

If we’re going to raise funds to pay for infrastructure, then super-profitable corporations should — and can afford to — pay their fair share. After all, Corporate America relies on roads and bridges, electricity grids and water/sewage systems, communications and IT networks, the public education system, fire and police services, the public health system, and other essential infrastructure to do business. Do not settle for a 25% corporate tax rate.

Add your name.

Thanks for taking action.

For progress,

- Robert Weissman, President of Public Citizen

P.S. For half a century, Public Citizen has been advancing policies that put the needs of everyday Americans before the greed of billionaires and Big Business. That legacy of progress and that ongoing work could not matter more right now, as our nation transitions to a Joe Biden presidency that will be as progressive as we — you and Public Citizen, together — make it. We’re also busy undoing all the damage Trump did. And, like so many nonprofits and small businesses, we continue to experience financial strain related to the coronavirus pandemic. If you can, please make an emergency donation today to support the critical work we’re doing together or even join our popular Monthly Giving program. Thank you.
 
 
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