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Tax March Responds to Corporate Tax Negotiations: “Every Option Must Stay on the Table”

FOR IMMEDIATE RELEASE:
JUNE 04, 2021
PRESS CONTACT:
[email protected]

Tax March Responds to Corporate Tax Negotiations: “Every Option Must Stay on the Table”

WASHINGTON, D.C. — Tax March today responded to reports that President Biden offered “a major concession” to Republicans as he seeks bipartisan support for job-creating infrastructure  projects. The report indicated that President Biden would be willing to remove the corporate tax increase from the current negotiations, but add a minimum corporate tax rate of 15 percent and increase enforcement to prevent large corporations from exploiting loopholes and paying $0 in federal income tax.

Tax March Executive Director Maura Quint responded to today’s reports: 

“The most important goal for corporate taxes is to unrig the broken system that enables massive companies like Nike and FedEx to pay nothing at all in federal income taxes while the rest of us pay our fair share. Every option for doing that must stay on the table until that goal is met.

“A minimum tax rate will help limit the use of loopholes that tax-dodging corporations love to exploit, but it’s no replacement for a fair overall tax rate. We know that the GOP will do anything they can to maintain tax breaks for their big corporate donors, but tax-dodging corporations shouldn’t drive this debate – the American people should. A 28 percent tax rate was already a compromise from where the rate stood prior to Trump’s disastrous tax law. Democrats should accept nothing less.”

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