FOR IMMEDIATE RELEASE

AFSCME Council 5 Calls on Lawmakers to Modernize Tax Code

South St. Paul – Following a recent report from the Institute on Taxation and Economic Policy showing more than 55 of the largest corporations paid $0 in federal taxes on 2020 profits, AFSCME Council 5 Executive Director Julie Bleyhl issued the following statement:

“For too long, the working-class has carried the burden of an unfair tax code that is structurally designed to benefit corporations and the wealthy at the expense of working families. Today’s report that shows more than 55 corporations paid nothing in federal taxes on billions of profit earned in 2020 is a slap in the face to the working-class. It is time for the Minnesota Legislature to pass Governor Walz’s tax proposal that would ensure corporations and the wealthiest Minnesotans pay their fair share for the public services that keep our state functioning and the workers who deliver them."

“Tax cuts for the wealthy and massive corporations passed by Donald Trump in 2017 have proven disastrous for our country and hurts our ability to equitably recover from the COVID-19 pandemic; they must be repealed. Corporate loopholes and our tax code that allows corporations to hide their profits has shown at least 55 corporations were granted $3.5 billion in tax refunds when they should have paid $8.5 billion in taxes."

“Before the pandemic started, few people knew what Zoom was. Zoom Video Communications alone increased their profits by more than 4,000% during the course of the pandemic, yet they paid nothing in federal taxes. They used the tax code to increase corporate executive salaries and purchase their own stock instead of contributing to investments in public services. Corporations like Amazon, Netflix, FedEx, Nike, Xcel Energy and countless others continue to pay nothing in federal taxes, all while the working-class struggle to make ends meet and corporate executives and shareholders reap all of the benefits. The same lawmakers who refuse to raise the minimum wage, pass paid family and medical leave for all or oppose collective bargaining are the ones advocating for corporations to cheat our tax system. Minnesotans are galvanized and ready for a new tax code."

“Working people pay their taxes for the services that keep our state functioning, and large corporations continue to put shareholder profit and personal gain over investments in front line workers and our united recovery. We call on the Minnesota Legislature to pass Governor Walz’s tax proposal and Congress to swiftly pass President Biden’s American Jobs Plan that brings fairness and equity to our tax code and invests $2 trillion in roads, bridges, transit and other critical infrastructure projects across the country."

###

AFSCME Council 5 is a union of more than 43,000 working Minnesotans from across the state. We advocate for excellence in services for the public, dignity in the workplace, and opportunity and prosperity for all workers.