John,

Did you know that billion-dollar corporations such as Nike, FedEx, Amazon, and Netflix are paying next to nothing in federal income taxes?

Due to a rigged tax system riddled with loopholes, they’re able to pay well below the current 21% domestic corporate tax rate. And, it’s gotten even worse since the 2017 Trump-GOP tax law.

Between 2018 and 2020, FedEx paid $0 in federal income taxes on $8.2 billion in profits (it actually got a tax refund!). Nike paid a measly 3.3% tax rate on $9 billion over those years.¹

From 2018 to 2021, Amazon paid just 5.1% in federal income taxes on $78.6 billion in profits while Netflix paid less than 1% on $10.5 billion in profits.^2,3

It’s time for billion-dollar corporations to pay their fair share in taxes so we can invest in our future. That’s why the Coalition on Human Needs and our national allies are fighting for a 15% corporate minimum tax on reported domestic profits and a 15% minimum tax on U.S. corporations’ offshore profits.

Sign the petition and demand Congress implement a 15% minimum tax on U.S. corporations’ offshore profits AND on profits billion-dollar corporations report to shareholders here at home.

We can’t let wealthy corporations like Amazon and Netflix continue getting away with paying little to nothing in federal taxes. We need Congress to act!

The average individual federal income tax rate for all taxpayers in 2019 was 13.3%―well above what these giant profitable corporations are paying.⁴

It’s estimated that a 15% Corporate Profits Minimum Tax on corporations with a billion dollars or more in profits would raise $320 billion over 10 years, and a 15% minimum tax rate on foreign profits of U.S. multinational corporations would net nearly $310 billion.⁵

That’s $630 billion we can use to invest in lowering prices on health care, child care, homecare, and to create millions of good-paying jobs in our care economy.

Join CHN and our national allies. Sign the petition and demand Congress make billion-dollar corporations pay a minimum 15% tax on reported domestic profits and on offshore profits.

Thank you for fighting for an economy that puts families and working people ahead of billion-dollar corporations.

Deborah Weinstein
Executive Director, Coalition on Human Needs

¹ https://itep.org/corporate-tax-avoidance-under-the-tax-cuts-and-jobs-act/
² https://itep.org/amazon-avoids-more-than-5-billion-in-corporate-income-taxes-reports-6-percent-tax-rate-on-35-billion-of-us-income/
³ https://itep.org/netflix-posts-record-profits-federal-tax-rate-of-just-1-percent/
⁴ https://taxfoundation.org/summary-latest-federal-income-tax-data-2022-update/
⁵ https://americansfortaxfairness.org/issue/fact-sheet-president-bidens-build-back-better-plan-lowers-costs-families-fully-paid/