John,

After Republicans passed the 2017 Trump-GOP tax scam, corporate abuse of a practice known as stock buybacks doubled.[1] Instead of using windfall tax breaks to invest in jobs and worker pay, corporations chose to manipulate the market while enriching CEOs and wealthy shareholders.

When a corporation buys back its own stock from the marketplace it reduces the number of outstanding shares. This typically increases the value of each share, which then lines the pockets of corporate executives and fat-cat shareholders.

By taxing stock buybacks at just 2%, we can hold greedy corporations accountable, raise about $100 billion, and invest that money in critically needed programs for working people.

Join Americans for Tax Fairness Action Fund and become a grassroots co-signer of the Stock Buyback Accountability Act today. Demand Congress include this critical bill in the Build Back Better plan to invest in our future.

We really have a chance of getting this tax bill included in President Biden's Build Back Better plan now before Congress.

So, please check out Frank’s email below for more information on how greedy corporations have enriched themselves at the expense of taxpayers and working people.

Thank you,

Sarah Christopherson
Legislative and Policy Director
Americans for Tax Fairness Action Fund

[1] “Brown, Wyden Unveil Major New Legislation to Tax Stock Buybacks,” Office of U.S. Senator Sherrod Brown, Sep. 10, 2021

-- Frank's email --

John,

Remember in 2017 when Mitch McConnell promised that tax cuts from the Trump-GOP tax scam would trickle down to working people?

Here’s a headline from the Associated Press after the tax scam took effect:

And, here’s a look at Americans for Tax Fairness reporting two years after the Trump-GOP tax scam became law:

Notice the huge spike in stock buybacks after the tax scam took effect?

When a corporation buys back its own stock from the marketplace it reduces the number of outstanding shares. This typically increases the value of each share, which then lines the pockets of corporate executives and fat-cat shareholders.

Unrigging our tax code means holding greedy corporations accountable. Now, Senators Sherrod Brown (D-OH) and Ron Wyden (D-OR) have introduced the Stock Buyback Accountability Act, which would assess a 2% tax on stock buybacks, preventing market abuse and tax avoidance. [1]

We are working hard to get it included in the president’s Build Back Better plan. The Stock Buyback Accountability Act would raise about $100 billion from greedy corporations to invest in everything from healthcare to eldercare to housing and nutrition to a clean energy economy and more!

Become a grassroots co-sponsor of Senators Brown’s and Wyden’s Stock Buyback Accountability Act and demand Congress hold greedy CEOs and shareholders accountable in the Build Back Better plan.

Here’s what Senators Brown and Wyden had to say about the need to hold Wall Street accountable and invest in working people:

“Instead of spending billions buying back stocks and handing out CEO bonuses, it’s past time Wall Street paid its fair share and reinvested more of that capital into the workers and communities who make those profits possible.”

―Senator Sherrod Brown

“Rather than investing in their workers, mega-corporations used the windfall from Republicans’ 2017 tax cuts to juice their stock prices and reward their wealthiest investors and their executives through massive stock buybacks.”

―Senator Ron Wyden

Sign now! Become a grassroots co-sponsor of the Stock Buyback Accountability Act to hold greedy corporations accountable and invest in our future.

Thank you for fighting for a tax system and economy that invests in working people, not bloated CEO pay and wealthy shareholders.

Frank Clemente
Executive Director
Americans for Tax Fairness Action Fund