By Gustavo Andrade, Organizing Director
The numbers are out on the Trump tax cuts, and some of them are staggering: Top polluting companies paid nothing (!) in taxes on billions of dollars of profits last year. According to a new report issued recently by the Institute on Tax and Economic Policy (ITEP, itep.org) a total of 91 corporations paid ZERO taxes in 2019.
Here are some notable examples, along with a rounded estimate of their profits in 2018:
You can find the report here: Corporate Tax Avoidance in the First Year of the Trump Tax Law
If you find this new information shocking, well, so do we! At a time when resources to investigate and treat pollution-related illnesses throughout the country are so scarce, the very people responsible aren’t even paying in their fair share.
These big polluters are just some of the 91 companies who didn’t pay taxes last year. Others mentioned in the report include giants like IBM, Facebook, Eli Lilly and others. Check it out for yourself at: https://itep.org/corporate-tax-avoidance-in-the-first-year-of-the-trump-tax-law/