If you paid federal income taxes last year, you probably paid a higher tax rate than Amazon, Netflix, and Tesla—even though they’re raking in record profits. That’s because our tax code is filled with loopholes and incentives to dodge taxes by shifting jobs and profits offshore.

Last year, President Biden secured a deal with 130 countries to create a global minimum corporate tax rate of 15%, which will help shut down the use of offshore tax havens.[1]. And his Build Back Better Act now before Congress includes both a 15% tax rate on profits that U.S. multinational corporations earn offshore, and a 15% minimum tax on profits earned in the U.S. by corporations that report over $1 billion in profits to their shareholders. (If a corporation owes more under the regular corporate tax, which is a 21% rate, they pay whichever is greater.)

These reforms would guarantee that billion-dollar corporations pay more of their fair share of taxes after years of contributing less and less. The U.S. House of Representatives has already passed these reforms, now it’s up to the Senate to do its job.

Congress estimates that a 15% Corporate Profits Minimum Tax on billion-dollar corporations would raise $320 billion over 10 years, and a 15% minimum tax rate on foreign profits of U.S. multinational corporations would net nearly $310 billion.[2] That’s $630 billion we can use to help working families afford healthcare, childcare, eldercare, education, housing and more.

We can’t let wealthy corporations like Amazon, Netflix, and Tesla continue getting away with paying little to nothing in federal taxes, especially as they take advantage of inflation to raise prices on everyday Americans. We need Congress to act!

Sign the petition and demand Congress implement a minimum 15% tax on U.S. corporations’ offshore profits AND on profits billion-dollar corporations report to shareholders here at home.

[1] “Global Deal to End Tax Havens Moves Ahead as Nations Back 15% Rate,” New York Times, Oct. 8, 2021

[2] “Fact Sheet: President Biden’s Build Back Better Plan Lowers Costs for Families and is Fully Paid For,” Americans for Tax Fairness, Nov. 23, 2021