New York, June 10 (RHC)-- A new report by Public Citizen finds that 55 major U.S. corporations that paid no federal taxes last year spent a collective $450 million on political lobbying and campaigns since the 2016 election cycle.
The companies also received $3.5 billion in tax rebates. Of the top 25 congressional recipients of the companies’ money, 20 are Republicans, and all voted for the Tax Cuts and Jobs Act of 2017, which lowered the corporate tax rate. FedEx was the biggest spender, followed by Charter Communications, American Electric Power and Duke Energy.
Public Citizen urged Congress to close loopholes allowing for corporate tax avoidance, adding: “While paying nothing to support the upkeep of our government, these companies have been spending huge amounts of money to try to keep the game rigged in their favor.”