50 signatures reached
To: Congress and the President
End corporate tax loopholes!
Multinational corporations like Tesla regularly exploit loopholes in the US tax code to avoid contributing to the social service and infrastructure our country desperately needs. Congress must close tax loopholes and raise the overall corporate tax rate!
Why is this important?
Tesla will pay $0 in federal taxes this year despite recording a record profit of $5.5 billion in 2021 thanks to existing corporate tax loopholes and the company’s “creative” accounting. That’s unacceptable.
Tesla is headquartered in the United States and its 2021 profits secured CEO Elon Musk’s title as the world’s richest man. Yet the corporation will avoid all US corporate taxes because its enormous profits were recorded outside the US, while inside the US, the company reported a loss.
For at least three years running, Tesla has avoided contributing to funding the social services and infrastructure that the US desperately needs. Congress must act now to make sure Tesla and other big corporations pay their fair share!
Sign the petition to close the tax loopholes for the rich and powerful!