Continuing months of progressive opposition to the bipartisan Tax Relief for American Families and Workers Act, U.S. Sen. Bernie Sanders on Thursday voted against advancing the bill and highlighted how it would give tax breaks to major corporations.The bill passed the House 357-70 in January, shortly after it was negotiated by Senate Finance Committee Chair … Read more
The text discusses letters to the editor of the Herald Times Reporter, with one letter supporting a 0.5% sales tax increase in Manitowoc County to address budget issues.
The text is a letter to the editor of the Herald Times Reporter advocating for support of the Corporate Tax Dodging Prevention Act introduced by U.S. Sen. Bernie Sanders and U.S. Rep. Jan Schakowsky. The act aims to close loopholes and ensure large profitable corporations pay their fair share in taxes, raising over .3 trillion over 10 years for investment in working families and communities.
The U.S. Congress should hike taxes on corporations that have been raising prices to increase profits.
U.S. Sen. Bernie Sanders and Congresswoman Jan Schakowsky introduced a bill to close tax loopholes for corporations, end tax breaks for businesses that move jobs abroad, and stop companies from hiding profits in tax havens. The Corporate Tax Dodging Prevention Act could raise over trillion in revenue over a decade with the tax haven provision alone. President Joe Biden’s budget blueprint includes proposals to hike taxes for corporations and ultrarich individuals.
Fact: The bill introduced by Sen. Bernie Sanders would allow the federal government to collect an additional .3 trillion in tax revenue over the next decade.
Fact: Many major U.S. companies are paying their top executives more than they’re paying in federal income taxes.