Congressman Steven Horsford Stands Up to Unfair Corporate Tax Laws

Washington, D.C. — On Tuesday, February 11, 2020, Congressman Steven Horsford (NV-04) spoke in a hearing in the House Ways and Means Committee, entitled "The Disappearing Corporate Income Tax," highlighting the unfair tax burden placed on the middle class and working poor while large corporations avoid paying their fair share in taxes every year.

"Sadly, those who pushed through the Tax Cuts and Jobs Act in 2017 missed a major opportunity to make our federal tax code fairer for most Americans," Congressman Horsford said. "Instead of making the law's tax cuts work for the middle class, small businesses and entrepreneurs — who are the engines of our economy — they prioritized the very rich and big corporations, passing the largest single corporate rate tax cut in history. By cutting corporate taxes for big corporations, they abused the very tool needed to invest in critical areas of our society including education, skills training for American workers, and funding healthcare in real and meaningful ways."

Congressman Horsford also highlighted the unfair auditing rates of families relying on Earned Income Tax Credits across the country. In 2018, the IRS conducted 16,000 audits on corporations. Within that same year, the IRS audited 400,000 EITC recipients.

"Auditing low-income Nevadans because it is cheaper and easier is wrong and only widens the gap between the wealthy and the working class," Congressman Horsford said.

The Congressman's full remarks can be viewed here.