Corporate cheating has gotten so bad, that investing just $1 in enforcement will recover $5 owed.
John,
Some of the biggest, most profitable corporations have gotten away with paying a lower tax rate than you probably do. Any of my kids could do that math and tell you—it’s not fair.
Since being elected, I’ve been pushing Congress to hold big corporations accountable for paying their fair share. We had a real success earlier this week when President Biden signed the Inflation Reduction Act into law, which will increase tax fairness by:
- Requiring corporations with $1 billion or more in annual profits pay at least a 15% tax.
- Funding to allow the IRS to audit the largest, most profitable companies, who have relied on teams of lawyers to help them evade taxes and exploit loopholes for decades. For every dollar we spend on IRS enforcement, we recover $5 that is owed to the rest of us.
Big corporations shouldn’t get special treatment from Washington. I’m proud to reject all corporate PAC contributions, and excited about this win for taxpayers.
Katie Porter
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Katie is running for re-election in California’s 47th district, which includes Irvine and coastal Orange County. This purple district contains an equal number of Democrats and Republicans and is a must-win for Democrats. Consider pitching in today so we have the resources to keep Katie in Congress fighting for working people.
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