Washington, DC – While working Americans face soaring costs, corporations are cashing in thanks to President Trump and Republicans in Congress. According to new reporting by Bloomberg, corporations avoided $65 billion in taxes in 2025 because of last year’s Republican Tax Law. The law handed out massive tax breaks to corporations and billionaires, funded by the largest cuts to health care and SNAP in history.
These cuts have put 10 million Americans at risk of losing health insurance and four million Americans at risk of losing critical food assistance. But they didn’t stop their cost-raising agenda there. The average household lost $1,000 in 2025 alone because of Republican-backed tariffs which have raised prices across the board.
Now, the Republican war in Iran is sending costs skyrocketing even more, with gas reaching an average of $4 a gallon nationwide this week. Instead of taxing corporations and billionaires, Republicans now want to pay for their unpopular war by making even more cuts to health care.
The result? Corporations get even richer, while working Americans get crushed.
“Families are struggling to stay afloat. And congressional Republicans are pushing their heads further under the water by voting to rip away health care and SNAP from working Americans so the very corporations making massive profits could avoid billions in taxes,” said Unrig Our Economy Campaign Director Leor Tal. “Congressional Republicans repeatedly promised their constituents lower costs, but it turns out they just meant for billionaires and corporations.”
Bloomberg: Trump’s Tax Cut Delivers at Least $65 Billion Windfall to Corporations
Key Points:
- Nearly a dozen of the 50 biggest US-listed companies attributed a drop in federal cash income taxes last year as a direct result of Trump’s $3.4 trillion sweeping tax law, according to a Bloomberg analysis of regulatory filings.
- In all, annual corporate tax revenues dropped by $65 billion following the law’s passage.
- Amazon.com Inc. was among the clearest winners in the wake of the new tax law, owing $2.8 billion in federal cash income taxes in 2025 — down from more than $7 billion in the two preceding years — despite reporting higher US revenue last year.
- Matthew Gardner, a senior fellow at the left-leaning Institute on Taxation and Economic Policy, said early signs of the substantial tax cut for corporations are starting to emerge.
- “The very clear trend is that so far we’re seeing corporate effective tax rates that are as low as anything my organization has measured in the last 40 years,” Gardner said.
- The think tank has compiled a list of more than two hundred companies that have reported significant 2025 tax savings.
- “If filing season ended right now, we’d have the lowest effective corporate tax rates overall that I’ve ever seen,” said Gardner.
To learn more about the campaign, visit UnrigOurEconomy.com or contact press@unrigoureconomy.com
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About Unrig Our Economy
Unrig Our Economy is a national campaign to fix the rules of our economy to make it work for working people. We know that when the middle class does well, all of us do well — which is why we’re fighting on behalf of working Americans and holding corporations, their wealthy executives, and the politicians who enable them accountable.