The Fiscal Times: More Big Companies Paying Zero Taxes

Sen. Warren’s corporate tax proposal came the same day as a new report from the Institute on Taxation and Economic Policy that says at least 60 large U.S. companies paid no taxes in 2018 – twice the number the group found in 2017, before the GOP tax cuts went into effect.

Those 60 companies had $79 billion in U.S. pretax income, ITEP said, which translates to about $16.4 billion in taxes at the current 21 percent corporate tax rate. Instead, the companies collectively claimed a net corporate tax rebate of $4.3 billion. Read more