(X-posted at ACT NOW)
Who needs a gift this holiday season? Multinational corporations. After all, they’re people, too.
That’s the logic behind the unlikely marriage of House Majority Leader Eric Cantor (R) and New York’s own senior senator, Chuck Schumer (D), who are jointly leading the charge to grant American corporations a “tax holiday.” And their effort is “gaining momentum,” according to Roll Call, with 73 congressional co-sponsors. (I feel like all I do these days is bash New York Democrats.)
Yes, that’s right: the same Congress that nearly failed to grant a two-month extension to payroll tax cuts for workers at the price tag of $30 billion is contemplating excusing corporations from taxes on an estimated $1.4 trillion in profits.
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