March 26, 2021
Senate Budget Committee examines what Sanders calls 'Rigged Tax Code' for corporations and wealthy individuals
Sanders also introduces bills that would raise estate tax, increase corporate rate to 35%, eliminate tax provisions that he says encourage booking profits offshore
The Senate Budget Committee held a hearing on March 25, on "Ending a Rigged Tax Code: The Need To Make the Wealthiest People and Largest Corporations Pay their Fair Share of Taxes." The witnesses were:
Testimony from the hearing is available here.
Additional information is available in the attached Tax Alert, along with summaries of the two tax bills that Chairman Bernie Sanders (I-VT) introduced on March 25: (i) "For the 99.5% Act" and (ii) "Corporate Tax Dodging Prevention Act." A press release on the two bills is also available here.
Senate budget, tax code hearing
Corporate Tax Dodging Prevention Act
For the 99.5% Act