New ATF Report Details 40 Revenue Options to Raise Trillions of Dollars for Critical Needs
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- Tax Day Report and Online Calculator Show How Corporations & Wealthy Could Pay Fair Share
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Americans for Tax Fairness today released a 65-page report detailing about 40 progressive tax reform and revenue options that would make the tax system much fairer and could raise trillions of dollars for critical needs like protecting and strengthening Medicare and Medicaid, investing in education, expanding affordable housing, rebuilding roads and bridges, protecting the environment and more.
The report, Fair Taxes Now: Revenue Options for a Fair Tax System (https://americansfortaxfairness.org/wp-content/uploads/ATF-Fair-Taxes-Now-Report-FINAL-FINAL-4-12-19.pdf), identifies for the first time the tax breaks for the wealthy and corporations included in the Trump-GOP 2017 tax law that should be amended or repealed. It also offers answers to the question being asked of Democratic presidential candidates and members of
The report examines in detail a wide range of proposals focusing on:
- Raising taxes on the super-rich, both on high incomes and accumulated wealth
- Reforming taxation of investment income so that wealth is taxed more like work
- Reinvigorating the corporate tax code by raising rates, closing loopholes and repealing incentives to offshore profits and outsource jobs
- Ending tax breaks for wealthy businesses, such as special real-estate provisions that have benefited
- Tapping new revenue sources, such as taxes on
The report is accompanied by an online calculator allowing users to pair proposed tax reforms with possible spending options, illustrating how future public investments can be financed.
"The wealthy and big corporations not paying their fair share hurts working families," said
The report provides a range of options to raise revenue by amending or repealing the wealth-favoring parts of the recent Trump-GOP tax law, known as the Tax Cuts and Jobs Act (TCJA). Repealing those provisions of the law that mostly benefit rich individuals, big corporations and businesses could raise about
"The report backs up our coalition's demand that
"For too long the 'tax reform' debate in
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