Companies with profits over $100 million would face new corporate taxes under a proposal released by Sen. Warren.
Presidential candidate Sen. Elizabeth Warren, D-Mass., speaks at an organizing event in Las Vegas on Feb. 17, 2019.Get breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings.WASHINGTON — Companies with profits over $100 million would face new corporate taxes under a proposal released Thursday by Sen. Elizabeth Warren, D-Mass.
The 2020 presidential hopeful said her"real corporate profits tax" is aimed at companies that report large annual gains but pay little in taxes thanks to a variety of tax credits and deductions that are available to lower their overall bill. An analysis by the Institute for Taxation of Economic Policy, a left-leaning think tank, that was released on Thursday found that the number of publicly held corporations that pay no federal taxesto 60, thanks in part to the $1.9 trillion tax cut President Donald Trump signed into law.
"Everybody profits from being part of this country and everybody ought to make a contribution," Warren said Thursday in an MSNBC interview."Little sized businesses do it, medium sized businesses do it, families do it, we want the big corporations to do it, too."
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