John,
The fight to pass President Biden’s $3.5 trillion Build Back Better plan has reached a critical moment.
This week, Corporate America announced that it’s launching a major lobbying effort, including TV ads targeting Democratic members of Congress, to slash the investments we’re able to make in children, families and working people.[1]
We’re rallying our allies across the country, demanding Congress raise the full $3.5 trillion to invest in affordable healthcare, childcare, jobs, the environment and more―by ensuring the rich and corporations start paying their fair share. Click here to send a message to your senators and representative today!
While corporate Democrats are hemming and hawing about the $3.5 trillion price tag, we know we can afford this investment.
Last year, 55 Fortune 500 corporations paid $0 in federal income tax on $40.5 billion in profits, including name brands Nike and Hewlett-Packard.[3] And, according to the latest billionaires report from Americans for Tax Fairness, total wealth of just 708 billionaires increased by an astonishing $1.8 trillion, or by 62%, during the first 17 months of the pandemic.[4]
That would pay for more than half of Biden’s entire ten-year $3.5 trillion Build Back Better package! Some of those billionaires, such as Jeff Bezos and Elon Musk, don’t even pay federal income taxes some years.[5]
Join Americans for Tax Fairness Action Fund and our allies in demanding Congress raise the full $3.5 trillion from the rich and corporations to invest in our future.
Together, this is a fight we can win.
Thank you,
Frank Clemente
Executive Director
Americans for Tax Fairness Action Fund
[1] "Corporate America launches massive lobbying blitz to kill key parts of Democrats’ $3.5 trillion economic plan," The Washington Post, August 31, 2021
[2] "55 Corporations Paid $0 in Federal Taxes on 2020 Profits," Institute on Taxation and Economic Policy, April 2, 2021
[3] "American Billionaires Got 62% Richer During Pandemic -- Almost All That Wealth Growth Will Go Income-Tax Free, Showing Need For Biden's Tax Reforms & Investment Plans," Americans for Tax Fairness, August 24, 2021
[4] "The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax," ProPublica, June 8, 2021