Lawmakers To Corporations: Come Clean On Your Tax Lobbying
Congress and Advocates Face Converging Expiration of the 2017 GOP Tax Law and the ACA Tax Credits
Washington, D.C. – Last week, Democratic lawmakers sent letters to executives at more than 35 large corporations, including Tesla, Netflix, and Ford, demanding they disclose their spending on lobbying efforts around the extension of the 2017 GOP Tax Law. Large portions of the law, which gave massive tax breaks to the wealthy and corporations while leaving the working class behind, expire next year. Corporations are already leaning on Congress to extend the law and oppose changes that would hurt the ultra-wealthy and corporations. Meanwhile, progressive organizations, including Unrig Our Economy, and Democrats in Congress have begun their campaigns to bring an end to the GOP Tax Law and instead implement a tax code that makes the wealthy and corporations pay their fair share and invests in programs that every day families depend on.
One of these programs is the Affordable Care Act (ACA) tax credits, which make health insurance premiums more affordable for 20 million Americans and are set to expire in 2025. Their expiration next year would leave millions of people without health insurance. The expiration of the GOP Tax Law and the ACA tax credits in 2025 presents Congress with the opportunity to develop a tax code that increases taxes on the ultra-wealthy and corporations to fund the continuation of the ACA tax credits, protecting a critical lifeline for everyday families.
“The convergence of the expiration of both the GOP Tax Law and the ACA tax credits in 2025 presents a clear choice,” said Unrig Our Economy spokesperson Kobie Christian. “Congress can either bend to the will of corporate lobbyists and cut handouts for the wealthy and corporations or deliver for everyday people by implementing a tax code that requires the wealthy and corporations pay their fair share and invests in protecting programs critical to everyday people like the ACA tax credits.”
READ MORE:
The Hill: Democrats Press Corporations on Lobbying Spending Ahead of Tax Fight
New York Times: Millions Could Lose Insurance Subsidies, Depending on the Election
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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.