Category: Politics

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MEMO: The Corporate Profits Minimum Tax and Why We Need It

  By Corporate Taxes, Federal Taxes, Taxation, US

Democrats are set to introduce a 15% corporate minimum tax as a funding mechanism for the Build Back Better plan. The Corporate Profits Minimum Tax legislation would ensure that roughly 200 corporations that report more than $1 billion in profits to shareholders pay at least a 15% tax rate on those gigantic profits. It would stop giant, profitable corporations, such as Amazon, Bank of America, FedEx, General Motors, Netflix, and Nike, from escaping all federal taxes. These corporations and others like them make huge profits that they report to their stockholders in filings required by the federal government. But they take advantage of multiple tax loopholes to avoid paying federal corporate income taxes. This new tax would raise roughly $200 billion to $300 billion dollars over ten years. These revenues would enable the federal government to make new investments in helping families with children, health care, child care, elder care,… Continue reading

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Build Back Better: A Transformative Plan for 21st-Century America

  By Economic Development, Economic Justice, Education, Energy, Infrastructure, PA Budget and Policy Center, Statements, Taxation, US

President Biden’s Build Back Better framework is an unprecedented and transformative plan to better the lives of all Americans—Black, brown, and white; those with low, moderate, or high incomes; the youngest children and the oldest seniors. It will help families care for children while making quality pre-K available to all 3- and 4-year-olds. It will create hundreds of thousands of good jobs, many in unionized trades and clean manufacturing while drastically cutting greenhouse gases and reducing energy costs for every household. It will reduce the cost of health care and housing for millions. And it will make college education more affordable, boosting the future prospects of our young people and our economy as a whole. It will be paid for by new taxes on the largest, most profitable corporations and the wealthiest Americans while cutting taxes for working people—all while reducing the deficit. The legislative process in America is always… Continue reading

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This Is How (and How Many) Pennsylvanians Are Helped by the Build Back Better Plan

  By Economic Development, Economic Justice, Health Care, PA Budget and Policy Center, PBPC Blog posts, Taxation, US

Updated November 18, 2021. President Biden’s Build Back Better plan is an unprecedented and transformative plan to better the lives of all Americans—Black, brown, and white; those with low, moderate, or high incomes; the youngest children and the oldest seniors. We have given an overview of the whole program—but here we want to focus on the many ways Pennsylvanians will be touched by the Build Back Better plan. These preliminary estimates of the numbers of Pennsylvanians who will benefit from Build Back Better are from official government sources. Soon, we will be updating them with additional and more detailed estimates from policy analysts outside government. How the Build Back Better plan helps Pennsylvania’s children and families Provides access to affordable child care. Child care is a huge burden for families in our state. The annual average cost of sending a young child to a child care center in Pennsylvania is… Continue reading

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The Prospects for Progress in DC

  By Economic Justice, PBPC Blog posts, US

News stories from Washington, D.C., are beginning to remind us of a melodrama with one cliffhanger after another—and they got worse after Speaker Pelosi decided not to hold a vote on the infrastructure bill last night. The key question appears to be: “will division between progressives and moderates in the Democratic party” be overcome so they can pass a reconciliation bill, an infrastructure bill, and an increase in the debt limit? Drama is almost always a part of major policy change, and cliffhangers sell newspapers and generate clicks on the Web. But looking forward, it seems clear that much of this daily drama is hysterical. In fact, I’m going to go out on a limb and say that President Biden and the Democrats in Congress are going to do all of these things within the next week or two. Why do I believe this? First, as a recent poll by… Continue reading

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We The People – PA Statement on Senate Intergovernmental Operations Committee Actions

  By Democracy, Elections and Voting, We The People–PA

Harrisburg, PA — the following is a statement from Marc Stier, director of the PA Budget and Policy Center and chair of the We The People PA campaign. Pennsylvania Senate Republicans are unwilling to address the problems of working people while small businesses and families all over the Commonwealth are still suffering from the effects of a COVID-19 pandemic that has recently become more serious due to the Delta variant of the virus. They have no plans to spend the $7.5 billion of our tax dollars in state bank accounts to help citizens, yet they do have time to continue to spread Donald Trump’s lies and misstatements about the 2020 election under the guise of conducting an utterly unnecessary and duplicative “forensic audit” of it. The latest example of this effort was a decision today, on a 7-4 party-line vote, to issue subpoenas to secure more information about which Pennsylvanians voted and how they voted in recent… Continue reading

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On HB 1596: The Constitutional Amendment Grab-Bag Bill

  By Democracy, Elections and Voting, PA Budget and Policy Center, Policy briefs

House Bill 1596 is a grab-bag of proposed amendments to the PA Constitution. Many of them are will suppress voting in Pennsylvania and compromise the fairness of our elections. To read full screen or print click here. Continue reading

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On the Senate Intergovernmental Operations Committee Hearing on the 2020 Election

  By Democracy, Elections and Voting, PA Budget and Policy Center, Statements

Rather than address the needs of Pennsylvania workers, small business owners, and families still suffering from the effect of the pandemic, the Republican-led Pennsylvania Senate begins yet another round of hearings about the 2020 election today—an election that most Pennsylvanians believe was settled in January. It is important to put this hearing in its proper context. We offer six observations. First, Senator Dush, the chair of the committee, and Senator Corman, the Senate president pro-tempore, have repeatedly said that these hearings are a response to doubts about the probity of the 2020 election. They fail to add is that those doubts have been stirred up again and again by Republican leaders, starting with former President Trump and his disgraced lawyer, Rudolph Giuliani, and continuing with Republican members of the U.S. House and Pennsylvania House and Senate who have repeated falsehoods that have been discredited by fact-checkers and by both state… Continue reading

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PA Republican Logic: Reject The Needs of Pennsylvanians and Democracy As Well

  By PA Budget and Policy Center, PBPC Blog posts, Pennsylvania, Politics

Flush with $10 billion in $7.3 billion in federal funds and a $3-billion, current-year surplus—all of which comes from our taxes—the Republican majority enacted a budget that neither provides much relief from the pandemic nor includes public investments to reduce our state’s glaring economic and racial inequity. And while ignoring those problems, the Republican majority passed legislation to make voting more difficult. The inaction on the budget and the actions taken to make it harder for people to vote are connected. An overwhelming majority of the public, including a substantial number of Republicans, want American Rescue Plan funds to be invested in the people of Pennsylvania. There are many opportunities for such investment: One-tenth of the funds available this year could have been used to fund Governor Wolf’s bold $1.3-billion proposal to take a major step toward reducing our worst-in-the-nation inequality in K-12 school funding. (The $300 million in new education… Continue reading

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On Juneteenth: White Supremacy Survives in Pennsylvania

  By Pennsylvania, White Supremacy and Structural Racism

Juneteenth, the newest federal holiday, is a day to remember. It’s a day to remember the end of slavery in the United States. It’s a day to remember the stain of the enslavement of Black people in the United States. And it should also be a day to remember that we haven’t overcome the white supremacy that was an integral part of slavery; that was maintained by segregation, the terror of lynchings, and the all too frequent destruction of middle-class Black communities; and that is found in too many of our public policies. Pennsylvania officially recognized Juneteenth in 2019, proclaiming it a state holiday, but those anti-Black policies continue in Harrisburg today. Here are three examples: First: The Federal CARES Act gave states funds to provide emergency rental assistance. Our recent report shows that counties with a higher percentage of Black people were severely shortchanged in the distribution of those… Continue reading

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PBPC-State Innovation Exchange Poll on Budget and Democracy Issues

  By PA Budget and Policy Center, Pennsylvania Budget, Polling

The poll we are releasing today was commissioned by the State Innovation Exchange and the PA Budget and Policy Center. It is the third poll on tax, budget, and democracy issues sponsored by the two organizations. The poll is also part of a six-state public opinion survey effort by the State Innovation Exchange. Topline Findings: American Rescue Plan and PA Budget As the Pennsylvania economy continues to reverse course from the pandemic, this poll shows clearly that PA voters have a big appetite for public investment and little appetite for austerity. The poll shows that by a 3-1 margin Pennsylvanians prefer investing American Rescue Plan funds in people and businesses over using the money to pay down structural budget deficits. It shows overwhelming support for a range of public investments with ARP funds, including: Low-interest small business loans Combating homelessness, lack of affordable housing, and food insecurity Hazard pay for… Continue reading