New York Times: Make Tax-Dodging Companies Pay for Biden’s Infrastructure Plan

American companies and companies that make money in the United States are not paying enough money in taxes. Even as profits have soared, tax payments have declined. Fifty-five of the nation’s largest corporations — including FedEx, Nike and the agribusiness giant Archer Daniels Midland — paid nothing in federal income taxes in 2020, despite collectively reporting more than $40 billion in profits, according to the Institute on Taxation and Economic Policy.

The federal government lets companies avoid taxes by shifting profits earned in the United States to countries with lower tax rates. Read more