Issue Position: Tax Policy

Issue Position

We all know the tax code is unfair and far too complicated. The statutory corporate tax rate is 35%, but it seems like every few months there's a new report on big corporations working the system. One recent report showed that, of the big corporations in the S&P 500, 115 paid less than 20% in taxes. Another report claimed that, of 280 of the biggest corporations in the country, 78 paid nothing in taxes during one of the last three years. How is this possible? An army of lobbyists helps create tax loopholes, and an army of lawyers helps these companies take advantage of them - and it's all perfectly legal. What does that mean for the rest of us? Small businesses are at a competitive disadvantage.

We need serious tax reform to make the tax code fairer and simpler. The most profitable corporations should have to pay their fair share. The tax code should not be designed to encourage companies and jobs to go overseas. And those who already have made it big have a responsibility to pay a little bit forward - so the next kid coming along has a chance to make it too.

Source