Following Sen. Kyrsten Sinema’s objection to raising the corporate tax rate, the party has turned to Sen. Ron Wyden’s proposal. ; As House Speaker Nancy Pelosi indicated the Democratic Party was close to a deal on the social spending package whose passage right-wing Democrats have obstructed for weeks, economic justice advocates ramped up pressure on […]
“Republicans can always be counted on to help billionaires not pay taxes.” Under pressure from well-heeled conservative advocacy organizations and donors, Republican senators have removed funding for IRS enforcement from an emerging bipartisan infrastructure plan, threatening to tank a proposed crackdown on rich tax cheats. Sen. Rob Portman (R-Ohio), part of the 22-member bipartisan group that’s […]
WASHINGTON – The Biden administration says wealthy Americans withhold more than $600 billion in unpaid taxes from the Treasury every year, and it has proposed a detailed plan to bulk up the Internal Revenue Service’s enforcement arm in an effort to increase tax compliance among high net worth individuals. Total unpaid taxes “will rise to […]
“By inflating executive compensation while their workers struggled during a pandemic, corporate boards have strengthened the case for tax penalties on huge CEO-worker pay gaps.” Dozens of the largest low-wage employers in the United States manipulated their own rules during the coronavirus pandemic to hand wealthy CEOs substantial raises while their vulnerable frontline workers struggled […]