Tell Congress: End Tax Breaks for Outsourcing
Tax Loopholes Reward Wealthy Corporations for Moving Jobs Abroad
The ongoing COVID-19 pandemic has laid bare the ramifications of the global race to the bottom on taxes, which has drained government coffers, hollowed out our public health and social services, and given rise to levels of economic inequality not seen since the Gilded Age. Certain companies profiting the most during the COVID-19 pandemic – like Microsoft, Google, or Facebook, which saw their profits surge since the start of the crisis – have a history of avoiding federal income tax. They are not outliers. “Building back better” requires more than a health care response to the pandemic: it requires reimagining a fairer tax system that works for all.
Currently, multinational corporations pay a lower tax rate on their foreign profits than on their domestic profits -- if they pay anything at all. Equalizing the foreign and domestic corporate rates and removing incentives to move tangible assets abroad would help reverse course, putting American workers and small businesses on a more level playing field.
It's time that Congress fixed our broken tax code.
There is crucial legislation in Congress, the No Tax Breaks for Outsourcing Act, to close these corporate tax loopholes.
Take action now to urge your Members of Congress to support the No Tax Breaks for Outsourcing Act (H.R. 1785 / S. 714)