CQ Roll Call: It’s Spring, the Sap Is Rising — and Congress Turns Its Thoughts to Taxes (Column)
media mentionIn similar paint-by-numbers fashion, the Biden White House is flogging studies by liberal think tanks highlighting how many major corporations have avoided paying any income taxes in recent years. For example, the Institute on Taxation and Economic Policy estimated that at least 55 profitable companies (including Nike, Salesforce and FedEx) took a tax holiday in 2020.
What these ritualistic exchanges obscure is how much consensus there is over corporation taxation. The difference between the current 21 percent and Biden’s advocacy of 28 percent is relatively small. And, already, West Virginia Sen. Joe Manchin — the most important swing voter in America — wants to split the difference at 25 percent.