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SCOTUS skeptical that state abortion bans conflict with federal health care law; Iowa advocates for immigrants push back on Texas-style deportation bill; new hearings, same arguments on both sides for ND pipeline project; clean-air activists to hold "die-in" Friday at LA City Hall.

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"Squad" member Summer Lee wins her primary with a pro-peace platform, Biden signs huge foreign aid bills including support for Ukraine and Israel, and the Arizona House repeals an abortion ban as California moves to welcome Arizona doctors.

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The urban-rural death divide is widening for working-age Americans, many home internet connections established for rural students during COVID have been broken, and a new federal rule aims to put the "public" back in public lands.

Corporate Tax Avoidance Continues Under New Code

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Monday, December 23, 2019   

DENVER - In the first year of the Trump administration's new tax law, 91 Fortune 500 companies didn't pay a dime in federal income tax, according to a new study by the Institute on Taxation and Economic Policy.

Report co-author Matthew Gardner, senior fellow at the institute, said using legal loopholes, corporations avoided paying $74 billion into the nation's coffers in 2018 alone.

"These companies aren't simply following the law; in many cases, they wrote the law," Gardner said. "These corporate tax cuts were enacted because of a very aggressive lobbying strategy by the business community."

Gardner pointed out corporate tax cuts and loopholes have been enacted by Congresses and presidents of both major parties for the past two decades. Champions of the new tax code argued lowering corporate rates would lead to increased investments and higher wages, and would increase federal revenues by removing tax shelters.

Gardner said, outside of a few one-time bonuses, wages for most workers have not gone up, and most companies used the extra cash to buy back stocks, not open new factories. He said if the nation's largest corporations continue to avoid paying their fair share, there could be across-the-board cuts in public investments.

"Making our highways passable, making our health-care system better, making our education system better. All of these things are things that we value" he said. "And they're things that will be un-fundable if we continue to allow the corporate income tax to be drained."

The new tax law lowered the corporate rate from 35% to 21%, but researchers found the average tax rate actually paid by companies was just 11%. Tax rates for 56 companies were between zero and 5% in 2018. Corporate tax revenues are near historic lows as a share of the nation's GDP, at just 1%.


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Rep. Crystal Quade, D-Springfield, the House Democratic floor leader, called Missouri politicians "extremist" on social media after they passed the most restrictive abortion ban in the country and defunded Planned Parenthood. (Fitz/Adobe Stock)

Health and Wellness

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The Missouri Legislature has approved a law to stop its Medicaid program, known as MO HealthNet, from paying Planned Parenthood for medical services …


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Air travelers could face fewer obstacles in securing a refund if their flight is canceled or changed under new federal rules announced Wednesday…


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Environment

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Leaders concerned about pollution and climate change are raising awareness about a ballot measure this fall on whether the state should mandate buffer…

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By Marianne Dhenin for Yes! Magazine.Broadcast version by Shanteya Hudson for Georgia News Connection reporting for the YES! Media/Public News …

 

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