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Memphis Labor Leader to FedEx CEO: Stop Lying, and Pay Your Taxes.

FOR IMMEDIATE RELEASE:
APRIL 13, 2021
PRESS CONTACT:
[email protected]
Memphis Labor Leader to FedEx CEO: Stop Lying, and Pay Your Taxes.
MEMPHIS, TN — Amid growing pressure to raise corporate taxes, including a new Tax March ad targeting FedEx, CEO Fred Smith has come out against President Biden’s proposed corporate tax plan. Tax March released the ad in response to a damning report from the Institute on Taxation and Economic Policy (ITEP) identifying FedEx as one of 55 massive corporations that paid zero dollars in federal income taxes last year.
The ad was first reported yesterday as a part of a campaign by Tax March targeting tax-avoiding companies who are now lobbying against President Biden’s plan to rebuild America and create millions of jobs.
Local labor leader Matthew Brown of the Teamsters Union responded to Smith’s statements:

“Fred Smith claims he supports rebuilding America’s infrastructure, but his company has dodged federal income taxes on nearly $7 billion in profits over the past three years. The only way to rebuild this country and create good-paying jobs is if companies like FedEx stop lying and pay their fair share.

“While FedEx has raked in billions during the pandemic and Fred Smith’s wealth has ballooned to nearly $6 billion, the average FedEx Ground package handler still makes just $30,734 a year.

We need 21st century infrastructure and a thriving local economy—all Americans do. That’s what big corporations like FedEx are built on, so they must pay their fair share.”

To speak with a Tax March spokesperson, please contact [email protected]

About Tax March

Tax March is a grassroots movement fighting for a fairer and more equitable tax code, and an economy that works for everyone, not just those at the top. Our organizers across the nation advocate in their communities and in Washington for policies to tax the rich and invest in middle and working class communities. During the coronavirus pandemic, we are calling on Congress and the White House to deliver direct relief to working families, tax the billionaires and big corporations whose wealth has skyrocketed, and rebuild a stronger, more equitable economy. Join the movement on Twitter and Facebook, or visit us at TaxMarch.org.

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