From Americans for Tax Fairness (https://americansfortaxfairness.org/):
In 2017, we were on defense―fighting back against a Trump-GOP tax scam that handed trillions of dollars in tax cuts to the rich and corporations. No longer.
Last week, President Biden introduced the American Jobs Plan―the first phase of his vision for investing in the U.S. It will be paid for by making corporations pay their fair share in taxes. The American Jobs Plan will invest $2.3 trillion to fix potholed roads, build more affordable homes, clean drinking water, promote domestic manufacturing, pursue a green energy future, ensure quality home care for the elderly and disabled, and more.[1]
President Biden also announced he will try to get passed the Made in America Tax Plan, which will generate about $2 trillion in new revenue. It will do this by increasing the corporate tax rate from 21% to 28%, closing loopholes that have incentivized multinational corporations to outsource jobs and shift profits to offshore tax havens, placing a 15% minimum tax on corporations so they can’t get away with paying $0 in taxes, ending fossil fuel tax subsidies and more.[2]
We now have a President who is prepared to make the largest investment in American workers and communities in generations. And he pays for it by making corporations pay their fair share.
Write to your members of Congress today at https://actionnetwork.org/letters/take-action-tell-congress-to-pass-president-bidens-made-in-america-tax-plan and tell them to support President Biden’s American Jobs Plan and Made in America Tax Plan. We know the American people overwhelmingly support the president’s bold initiative. Now we need to get Congress on board.
Congressional Republicans are preparing to fiercely oppose both measures, and Corporate America will join them in trying to block the proposed corporate tax increases. But, these same corporations whose profits the GOP seeks to protect are, in many cases, paying an effective tax rate of $0.
At a time when millions of people remain out of work or are working for reduced pay, it’s time for corporations to invest in the same country that has allowed them to prosper.
Together, we are fighting to create an economy that works for all of us―paid for by making the rich and corporations pay their fair share.
[1] “FACT SHEET: The American Jobs Plan,” The White House, March 31, 2021 [2] Americans for Tax Fairness estimates of revenue raised over 10 years from the corporate tax reforms proposed by President Biden.
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