Workday Minnesota: Dozens of Big Businesses Avoided Corporate Taxes in 2018

Roque said corporate tax cuts and loopholes have been enacted by Congresses and presidents of both major parties for the past two decades. Champions of the new tax code argued that lowering corporate rates would lead to increased investments and higher wages, and would increase federal revenues by removing tax shelters.

Outside of a few one-time bonuses, said Matthew Gardner, a senior fellow at the institute, wages for most workers have not gone up, and most companies used the extra cash to buy back stocks, not open new factories. If the nation’s largest corporations continue to avoid paying their fair share, he said, there could be across-the-board cuts in public investments.

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