Biden’s favorite stat — that 55 major corporations paid no federal income tax

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“A median of lower than 10 of the chosen 50 companies reported no Federal revenue tax legal responsibility after credit in annually 2014 by means of 2016,” the JCT reported. “For 2017 and 2018, the common elevated to greater than 10. According to companies accelerating deductions into 2017 and delaying revenue into 2018, tax yr 2017 had essentially the most companies reporting no tax legal responsibility. In a number of circumstances, the company didn’t report tax legal responsibility in not less than three consecutive tax years throughout the 2014 to 2018 interval.”