Warren calls for eliminating corporate tax breaks to help pay for Dems’ massive spending package Democratic Sen. Elizabeth Warren on Monday proposed paying for part of liberal senators’ $3.5 trillion spending package by closing corporate tax loopholes that she says allow profitable companies to pay nothing to Uncle Sam.
Ms. Warren of Massachusetts said the proposal would raise $700 billion over the next decade.
But while Ms. Warren painted her proposal as making companies pay their “fair share,” a center-right tax policy group warned that by lowering corporate profits, the measure would cost jobs and reduce Americans’ pay.
Still, Ms. Warren and Sen. Angus King, a Maine independent who caucuses with the Democrats, called for rethinking how the nation’s most profitable companies are taxed.
“Now is the time to put revenues on the table to pay for our investments in child care and climate care,” Ms. Warren said Monday. “I believe revenues should come from billionaires and from giant corporations that have evaded taxes for too long,” she said. ............
https://www.washingtontimes.com/news/2021/aug/9/warren-calls-eliminating-corporate-tax-breaks-help/
