March 27, 2020

Crooked: Democrats Must Keep Fighting Trump’s Bailouts

media mention

These massive corporations also reaped huge benefits from Trump’s 2017 corporate tax cuts. An Institute on Taxation and Economic Policy report from March 10 lays it out: “In the two full years since the Trump corporate tax cuts took effect, seven large U.S.-based airlines reported $30 billion of U.S. pretax income and paid an average effective federal income tax rate of 2.3 percent. One of these companies, Southwest Airlines, accounts for most of the income taxes paid by this group of companies. The other six—Delta, American, United, Alaska Airlines, Spirit and Jetblue—paid effective rates in the single digits or negative during this two-year period.”  Read more