Thread by @RepWilson

Our tax system provides corporations too many opportunities to hide their money and avoid paying their fair share. The #InflationReductionAct closes some crucial loopholes and makes the system fairer for everyday Americans while reducing the deficit.

Let’s talk about it! 🧵

After years of radical Republican plans to underfund our tax system, the rich and wealthy hardly ever turn over their books and pay what they’re supposed to.

Under the #IRA, we’ll make sure that they can't take advantage like that!

cnbc.com/2022/05/17/sup…

It’s also time we fix our understaffed @irs. With their help, we will process the almost 21.3M backlogged tax returns pending and put those returns directly into your pocket.

It’s time tax cheats pay their fair share and that starts with ensuring tax accountability.

The #IRA cracks down on wealthy tax cheats who use stock buybacks to move money from corporations to shareholders untaxed!

cnbc.com/2022/08/08/wha…

The #IRA means fairer taxes:
- 15% minimum tax on companies with over $1B in profits
- 1% tax on corporations hiding profits by sending them to shareholders
This funding will help offset crucial investments in a clean energy future for all Americans.

bloomberg.com/news/articles/…

Most importantly, we’re doing this WITHOUT raising taxes on 99% of Americans.

This bill does not add a single dollar to the deficit. It’s entirely paid for, and actually REDUCES our national deficit and cuts inflation.

reuters.com/markets/us/us-…

The #InflationReductionAct creates jobs, makes taxes fairer for Americans, and reduces pollution while directly lowering health care and energy costs.

It’s a no-brainer, and I’ll be proud to vote YES on Friday!