Corporate Tax

Coalition Urges Congress “Stand up to Stress From Company Lobbyists”

A coalition of 93 workers, environmental and progressive groups on Thursday demanded the democratic legislature Reject efforts by corporate lobbyists to dilute the party’s $ 3.5 trillion spending plan.

The groups urged lawmakers to “stand up to pressure from corporate lobbyists” to remove tax hikes in the spending package that would fund huge investments in climate protection, paid family vacations, childcare and other democratic priorities.

“Now is not the time to let deeply rooted corporate lobbyists get in the way of important public investments in an economy that works for all of us,” the groups wrote in a letter to lawmakers.

The left-wing Institute for Policy Studies and the Economic Policy Institute directed the letter, which was endorsed by the AFL-CIO, the American Federation of Teachers, and other working class groups.

Their efforts come when American corporations launch a lobbying attack on the Democratic spending proposal. Business lobbyists are confident that they can stamp out proposals to increase taxes on businesses, foreign profits and capital gains, while lowering the overall price of the spending package.

Progressives and workers groups are try to push back, but they have far less lobbying power than business interests. According to OpenSecrets.org, companies and their allied trade associations spent nearly $ 1.5 billion lobbying in the first half of the year, compared to $ 22 million spent by unions.

“After a year of record billionaires and corporate profits, it is outrageous that hundreds of giant US corporations are trying to cut taxes on themselves in order to undermine the most important legislation affecting children, workers and the climate in our lives.” Cavanagh , senior advisor at the Institute for Policy Studies, said in a statement.

House Ways and Means began examining possible tax increases on the spending package on Thursday.

Before the markup, the National Association of Manufacturers launched a six-digit print, radio and digital advertising campaign against tax increases on Thursday. The group warns that a corporation tax hike will slow the growth of the industry.

Business interests have allies in moderate House Democrats, who have raised concerns about the $ 3.5 trillion bill, and Sen. Joe ManchinJoe ManchinWays and Means Begin Labeling the .5T Package Harry Reid Renews Filibuster Call For “We Must Get The Senate Up” The Hills 12:30 Report – Supreme Court Resumes Personal Oral Arguments (DW.Va.) who is supposed to be ready to spend just $ 1.5 trillion, says Axios.

Just a handful of defectors among the House Democrats – or just one in the 50-50 Senate – would break the spending package that is being driven by the budget vote to avoid a Republican filibuster.

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