Credo Action

Tell Congress: No more corporate handouts

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Petition to Congress:

"Oppose Trump-Republican tax plans that give huge tax breaks to millionaires and wealthy corporations, paid for by cutting Social Security, Medicare, Medicaid, education, medical research, Meals on Wheels and road repairs. We need real tax reform to make sure the wealthy and big corporations pay their fair share."

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    Tell Congress: No more corporate handouts

    The latest reports say that Donald Trump is obsessed with lowering the corporate tax rate to 15 percent, even though many companies already dodge taxes by hiding money overseas.1

    Yet some corporate Democrats, like Sen. Claire McCaskill, Rep. Tim Ryan, and Sens. Joe Donnelly, Heidi Heitkamp, Joe Manchin are openly embracing corporate tax cuts, with the last three even sitting down with Trump to plot strategy.2,3

    Meanwhile, far-right Republicans in Congress are openly floating the idea of using must-pass bills to raise the debt ceiling and keep America funded to make cuts and give handouts to Wall Street.4

    Right now, as negotiations are ongoing and plans are in formation, we need to stiffen Democrats' spines and show Republicans what is in store for them if they go down this path.

    Tell Congress: No more corporate handouts.

    On top of it all, there is a chance Republicans will use a “fast track” process to pass tax cuts through budget reconciliation – which means they will only need 51 votes. That means a bare majority would let them slash taxes on the wealthy while defunding health care, the social safety net, education and medical research.5

    CREDO is joining with our friends at Americans for Tax Fairness and the progressive community to say that we will fiercely oppose any tax legislation unless it follows these basic principles:

    • No more tax cuts for the wealthy and big corporations. They should pay their fair share of taxes – a lot more than they pay now.

    • Invest those tax dollars in our country’s future – in public roads and transit systems, quality and affordable early childhood education, public schools and higher education, researching new medical cures, and ensuring a secure retirement for all of us by strengthening Social Security, Medicare and Medicaid.

    • Eliminate all tax breaks that encourage multinational corporations to shift jobs and profits offshore.

    • Require corporations pay the $750 billion they owe on their $2.6 trillion in offshore profits.6 Use the funds to rebuild roads and bridges, improve schools and create millions of good-paying jobs.

    Half of the Trump tax cuts would go to the richest 1%, while big corporations holding profits offshore would get a huge tax cut.7 Instead, we need to insist that any tax legislation includes “not one penny” in tax cuts for the wealthy and big corporations and instead makes them pay their fair share.

    Tell Congress: No more corporate handouts.

    CREDO’s position is that Congress must not take up tax legislation until Trump reveals his tax returns and Americans have a chance to see how he would profit from the toxic plans Republicans are pushing.

    But with Trump scheming up plans to give tax cuts to the super wealthy and big corporations and corporate Democrats listening, we need to show where Americans really stand.

    Tell Congress: No more corporate handouts.

    Thank you for speaking out.

    References:

    1. Ben White and Nancy Cook, “Trump still pushing for a 15 percent corporate rate,” POLITICO, Sept. 5, 2017.
    2. Matthew Sheffield, “Tim Ryan, who wanted to lead Democrats in Congress, floats corporate tax cuts,” Salon, Sept. 1, 2017.
    3. Scott Horsley, “Trump Dinner Menu: Tax Cuts,” NPR, Sept. 12, 2017.
    4. Seung Min Kim and Rachel Bade, “GOP clash looms over raising the debt ceiling,” POLITICO, Aug. 3, 2017.
    5. Americans for Tax Fairness, “Talking Points on Donald Trump’s Tax Plan,” April 5, 2017.
    6. Ibid.
    7. Ibid.