Tax Day: A reminder of taxpayer-subsidized pollution through corporate welfare
WASHINGTON, D.C. — The Senate Finance Committee is expected to release recommendations for tax reform by late May. Meanwhile, the Committee has set an April 15 deadline for stakeholder comments to coincide with Tax Day. This is a good time to revisit the inequalities in our current tax system, which continues to subsidize the most destructive segments of our economy, from Big Oil to Wall Street.
Accompanying official comments to the Senate Finance Committee’s tax reform working groups, Friends of the Earth Climate and Energy campaigner Lukas Ross issued the following statement:
Tax Day reminds the public of all the inequalities embedded in our current tax system. Wall Street, polluters and the rich pay too little, and not enough revenue is raised to address existential threats like climate disruption, inequality and limited access to healthcare.
As the wheels turn slowly towards fundamental tax reform, it is past time to abandon the framework of revenue neutrality. A more just and resilient society requires corporations and the rich to pay their fair share. A carbon tax, a financial transactions tax and an end to Big Oil giveaways are three crucial steps in the right direction.