How about ending tax breaks for CEO bonuses instead?

Corporations like Walmart avoid paying millions in taxes each year by giving out huge CEO bonuses. Meanwhile, the Senate is about to take up a budget with huge cuts to programs that support the middle class. Tell the Senate to end these outrageous tax breaks for CEO bonuses instead of cutting funding core programs.

Dear MoveOn member,

I'm Nathan Proctor of the organization Fair Share. The Senate is about to take up a budget that makes deep cuts to programs that help build the middle class—like education funding and job training.¹

Meanwhile, huge corporations like Walmart continue to get tax breaks for handing out huge CEO bonuses.

Can you tell the Senate to end tax breaks for CEO bonuses instead of cutting funding for these core programs? Click here to add your name.

With a shrinking middle class and rising inequality, no corporation should get a tax break for shelling out giant bonuses to CEOs. We urge you to take action to close the performance pay loophole. Instead of making deep cuts to the programs that build a stronger middle class, why doesn't Congress close this loophole that gives extra incentives for excessive CEO pay?

The tax code sets a $1-million limit per executive for the amount of pay that corporations can write off their income taxes.² But the problem is that there's a loophole that exempts "performance-based" pay.

So corporations are shelling out huge CEO bonuses to pay less in taxes. For example, during the past six years, Walmart pocketed $298.6 million in fully deductible "performance pay," lowering the company's federal tax bills by $104 million.³

We simply can't afford tax loopholes that help the biggest corporations dodge paying their fair share. It's time we close these loopholes and invest in an economy that works for all of us, not just the CEOs.

Click here to add your name to this petition, and then pass it along to your friends.

Thanks!

–Nathan Proctor, Fair Share

Sources:

1. "Congressional Budget Plans Get Two-Thirds of Cuts From Programs for People With Low or Moderate Incomes," Center on Budget and Policy Priorities, July 2, 2015
http://www.moveon.org/r/?r=306583&id=131756-10220574-SReC9wx&t=2

2. "Fast food CEOs exploit despicable tax loophole," Salon, December 3, 2013
http://www.moveon.org/r/?r=306584&id=131756-10220574-SReC9wx&t=3

3. "Walmart's Executive Bonuses Have Cost Taxpayers $104 Million Since 2009," ThinkProgress, June 5, 2014
http://www.moveon.org/r/?r=306585&id=131756-10220574-SReC9wx&t=4

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