John,

President Biden needs to know we have his back.

As the president and his team negotiate with Senate Republicans on a big jobs and infrastructure package, and with a Memorial Day deadline looming, they must hold firm on their plans to raise corporate taxes and close loopholes that encourage corporations to ship jobs and profits offshore.

Sign our petition to President Biden: Hold firm on your demands of raising $2 trillion in new revenue from corporations to invest in infrastructure, clean energy and the caring economy. Don’t fall into the Republican trap that would let corporations off the hook and instead raise the gas tax and other taxes on working people.

Did you know that last year, 55 large U.S. corporations paid $0 in federal income tax on more than $40 billion in profits?[1] That’s obscene!

President Biden has proposed raising the corporate tax rate from 21% to 28%, closing loopholes that have incentivized multinational corporations to outsource jobs and shift profits to offshore tax havens, placing a 15% minimum tax on corporations so they can’t get away with paying $0 in taxes, ending fossil fuel tax subsidies and more.

He wants to use the revenue to pay for his jobs and infrastructure plan.

Mitch McConnell has called doing away with the Trump tax cuts for corporations a “red line” that Republicans are unwilling to cross.[2] But that shouldn’t stop moderates from supporting President Biden’s plan, which would set the corporate tax rate well short of the previous 35% rate (which was even higher under President Reagan).

Corporations rely on U.S. infrastructure to deliver their goods and services every day. It’s time for corporations to start paying their fair share toward our shared future.

Sign the petition to President Biden and tell him to hold firm on his infrastructure plan, which raises $2 trillion by making corporations start paying their fair share.

Together, we’re demanding an investment in our future that puts working people first.

Thank you,

Frank Clemente
Executive Director
Americans for Tax Fairness Action Fund

[1] “55 Corporations Paid $0 in Federal Taxes on 2020 Profits,” ITEP, April 2, 2021

[2] “Mitch McConnell told Biden the GOP considers Trump's tax cut a 'red line' in infrastructure talks,” Business Insider, May 12, 2021