The House voted this month on a bill to permanently extend a tax break for corporations. It's just the first part of a corporate tax cut package that costs $310 billion. Although none of this bill is paid for, the House still refuses to vote on an extension of federal emergency unemployment insurance benefits that costs just $10 billion because according to some House leaders- that's too expensive. And, while the House moves ahead on making tax breaks for corporations permanent, without paying for them by closing corporate tax loopholes, making improved tax credits for working families permanent isn't on their agenda.
Organizations and citizens in disagreement of the proposed bill argue:
• To not put corporations first, and stop treating them as individuals
• Refuse to act on any corporate tax extender until they extend vital emergency unemployment benefits that expired last December.
• Make permanent the improvements in the Earned Income Tax Credit (EITC) and Child Tax Credit that lift women and their families out of poverty.
• Always require that corporate tax extenders are fully paid for by closing other corporate tax loopholes.
• Decline to extend or make permanent any corporate tax extenders that ship profits and jobs offshore.
• Every dollar spent to extend corporate tax loophole is a dollar that's not available to restore programs decimated by years of budget cuts or make new investments to expand opportunity, create jobs, and strengthen our economy.