CNN: We Can’t Afford to let Build Back Better Fail

The bill also has provisions to require corporations to pay their fair share of the nation’s tax bill. According to the Institute on Taxation and Economic Policy, 55 of the nation’s largest and most profitable corporations paid no federal tax at all in 2020. Build Back Better would require corporations with profits exceeding $1 billion annually to pay federal income taxes equal to at least 15% of the profits they report to shareholders. The bill would also add a 1% tax on stock buybacks. Read more