The Payback

NEW: In Bloomberg News, Columbia's Joseph Stiglitz and American University's Ignacio González and Juan Montecino make the case for raising the corporate tax rate in 2025 and getting our payback: "Corporations play an important role in our society ... They need to pay their fair share."

FACT: Project 2025 calls for cutting the corporate tax rate to 18% from its current 21%, which was enacted under the 2017 tax law. Prior to 2017, the corporate tax rate stood at 35%. Amid record profits and price gouging, we cannot afford more runaway corporate power and wealth.

NEW: In an attempt to rewrite history, Mike Pence and Pat Toomey published an op-ed in The Wall Street Journal riddled with inaccuracies about the impacts of the failed 2017 tax law. We've fixed it for them — and we're setting the record straight: https://lnkd.in/eBsvV9cA

By shirking the taxes they owe, corporations and the wealthy hoard money to wield power over our government and our society. We're fighting to change that for good.

With the 2017 tax law expiring in 2025, Congress has an opportunity to capitalize on this success by creating a tax code that ensures the wealthiest Americans – not low and middle-income Americans – bear a greater share of the tax burden.

Next year, when key provisions of the 2017 tax law expire, Congress must reverse decades of failed trickle-down policies and deliver bold tax reform that: 1. Makes the tax code more fair. 2. Generates more tax revenue. 3. Supports faster and more inclusive economic growth.

“If you’re going to vote on taxes, the key question you should ask yourself is, ‘Do I think rich people pay too much or too little?’” —The Payback Campaign Advisory Board member @MichaelSLinden on the choice voters will face on tax policy this November

"Democrats are in a position to isolate the fight on taxing the rich and corporations, an issue on which they have a really strong advantage." —Bharat Ramamurti on the opportunity to defeat the Trump tax scam and deliver a tax system for all in 2025

"Democrats should feel very comfortable drawing a clear line that rich people’s taxes cannot go down." —Michael Linden on the growing public support for defeating the Trump tax scam and delivering a fair tax code that works for working people in 2025

Reforming America’s tax system is vital to defending our democracy.