September 24, 2021

SARAH HOYT’S SHOCKED FACE MIGHT HAVE TO BE PERMANENTLY RETIRED: Some Profitable Companies Would Still Pay No Taxes Under Democrats’ Plan.

The bill, however, doesn’t touch the main reasons why profitable companies sometimes don’t pay taxes, including accelerated depreciation of investments and tax credits for activities such as research and development. The bill does strengthen a minimum tax on U.S. companies’ foreign profits, but it doesn’t include the separate minimum tax that Mr. Biden proposed to limit the number of zero-tax companies.

The legislation also expands tax credits for clean energy and low-income housing in ways that could push some companies from paying little to paying nothing.

“Corporations that don’t pay any taxes are still going to be able to go on paying no taxes, and in some ways they may even get a bigger refund,” said Frank Clemente, executive director of Americans for Tax Fairness, a progressive group that advocates higher taxes. “It is remarkable that there is no talk about this in Congress.”

No, it’s business as usual.

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