CBS News: Dozens of Profitable U.S. Companies Haven’t Had a Federal Tax Expense since Trump’s Rate Cut
media mentionMore than two dozen large U.S. companies have made a collective $77 billion in domestic profits in the past three years without any expectation of having to immediately pay federal taxes on their bounty. Indeed, they haven’t expensed a single dollar for current federal taxes since Donald Trump pushed through a massive tax cut for corporations in the first year of his presidency, according to a new study.
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“There’s already this suspicion that big corporations aren’t paying their fair share,” said Matthew Gardner, a senior fellow at ITEP and one of the authors of the study. “A finding like this is going to support that view.”