Hi,

[ [link removed] ]Congress must end tax loopholes for mega-corporations and raise the
overall corporate tax rate! 

[ [link removed] ]ADD YOUR NAME

Tesla will pay $0 in federal taxes this year despite recording a record
profit of $5.5 billion in 2021 thanks to existing corporate tax loopholes
and the company's "creative" accounting.^1 That's unacceptable. [ [link removed] ]Click
here if you agree. 

Tesla is headquartered in the United States and its 2021 profits secured
CEO Elon Musk's title as the world's richest man. Yet the corporation will
avoid all US corporate taxes because its enormous profits were recorded
outside the US, while inside the US, the company reported a loss.^2 

For at least three years running, Tesla has avoided contributing to
funding the social services and infrastructure that the US desperately
needs. Congress must act now to make sure Tesla and other big corporations
pay their fair share!  

[ [link removed] ]Sign the petition: Congress must end tax loopholes for corporations and
raise the overall corporate tax rate! 

Multinational corporations like Tesla regularly use offshore tax havens to
report all their profits abroad, where they're subject to drastically
lower tax rates. 130 countries including the US entered into an agreement
last year intended to crack down on tax evasion by setting a standard
corporate tax rate of 15%.^3

But, as Tesla's 2021 tax filings indicate, the new agreement won't have
much effect because key tax havens still haven't joined. 

Tesla's SEC filings show that US sales accounted for nearly half of
Tesla's total revenue in 2021, but the company is still declaring a loss
in the US for the year. That means Tesla will avoid US corporate taxes
altogether.^4 Congress must pass legislation applying a 15% corporate tax
rate to all profits — regardless of whether they're reported domestically
or abroad.  

[ [link removed] ]Sign the petition: Close the tax loopholes for the rich and powerful! 

Thanks for taking action,

Izzi and the team at Demand Progress

[ [link removed] ]DONATE

Sources:
1. CNN, "Elon Musk's US tax bill: $11 billion. Tesla's: 0," [ [link removed] ]February
10, 2022.
2. NPR, "Over 130 countries agree to set a minimum tax rate for
companies," [ [link removed] ]October 8, 2021.
3. Op cit.
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