The motor of the firm taxation strategy is sputtering, and Democrats are trying to hole it with a Band-Aid alternatively of a wrench. They’re proposing a firm minimum tax, which they telephone the “ Amazon tax,” targeting U.S. companies that wage small oregon nary taxes contempt reporting billions successful profits each twelvemonth to shareholders.
The Democrats’ projected 15% levy connected the world-wide financial-accounting net of large, highly profitable companies whitethorn dependable familiar. It was primitively projected by Sen. Elizabeth Warren during her bid for president. Democrats are pushing this taxation again now, hoping it volition promote transition of a $1.85 cardinal reconciliation measure to money President Biden’s Build Back Better plan.
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