Shortcut Navigation:


'Fix the Debt' Corporations Take at Least $953 Million in Taxpayer Subsidies

'Fix the Debt' Corporations Take at Least $953 Million in Taxpayer Subsidies

new report from the Institute for Policy Studies and Campaign for America's Future shows that the CEOs who run the 90 corporations in the '"Fix the Debt" coalition, which advocates for cuts to earned benefits like Social Security while reducing tax rates for, well, themselves, accept massive subsidies from the U.S. government. The amount they have taken in subsidies ranges from a possible low of $953 million to a possible high of $1.6 billion. The AFL-CIO's Executive PayWatch covers related issues.

Among the key findings from the report:

  • The "Fix the Debt" corporations paid their CEOs and high-ranking executives a total of $6.3 billion from 2009-2011.
  • Because of a "performance pay" tax loophole, corporations can deduct these large payouts from their income taxes, effectively leading to taxpayer subsidies of CEO pay.
  • These CEOs have aggressively called for cuts to lifelines like Social Security and Medicare that benefit the taxpayers who are subsidizing them.
  • Many of these CEOs also use tax havens and other accounting tricks that allow them to avoid paying their fair share of taxes and add to the deficit and debt.
  • Corporations are not required to disclose executive compensation.

Read the full report. Learn more about CEO pay at the AFL-CIO Executive PayWatch.

The email address provided does not appear to be valid. Please check the address entered and try again.
Thank you for signing up to receive our blog alerts. You will receive your first email shortly.

Related Stories

Take Action

Protect the Consumer Financial Protection Bureau

The Consumer Financial Protection Bureau has done crucial work to safeguard Americans against the deceptive and abusive practices of big banks, student loan servicers, credit card companies and predatory lenders. Tell Congress to protect this important agency.

Sign the petition. »

Connect With Us

  • Facebook
  • Twitter
  • YouTube
  • Flickr

Get Email from AFL-CIO

Msg & data rates may apply. Text STOP to 235246 to stop receiving messages. Text HELP to 235246 for more information.


Join Us Online