[Congressional Record Volume 141, Number 45 (Friday, March 10, 1995)]
[House]
[Pages H3031-H3032]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




             REPUBLICAN TAX PLAN FOR AMERICA'S CORPORATIONS

  (Mr. MILLER of California asked and was given permission to address 
the House for 1 minute.)
  Mr. MILLER of California. Mr. Speaker, the Republican tax plan 
announced yesterday takes us back to the days of yesteryear, when 130 
of the 250 largest corporations in America paid no income taxes in 
spite of having profits of $72 billion prior to 1986; 130 of these 
corporations paid no taxes in 1 or more years.
  The Republicans are repealing the alternative minimum tax for 
corporations and, once again, these corporations will not have an 
obligation to the people of this country. As they shift the jobs 
overseas, they will pay no taxes in America.
  Prior to 1986, Burlington Industries paid no taxes in 2 out of 4 
years; Burlington Northern, 2 out of 4 years; Adolph Coors, 1 out of 5 
years; Lockheed, 4 out of 5 years; Mitchell Energy, 4 out of 5 years; 
General Dynamics, 4 out of 5 years; the Grumman Corp., 4 out of 5 years 
paid no taxes, yet they earned $72 billion.
  Do Members want to know why middle-income taxpayers are paying more 
taxes? Because the Republicans are going to let the American 
corporations 
[[Page H3032]] off the hook for over $13 billion in taxes.
130 companies that beat the tax system in at least 1 year between 1981 
                                and 1985

                 [Out of a sample of 250 corporations]

        Company                                  Number of no-tax years
Aetna Life & Casualty.................................................1
Air Products and Chemicals............................................1
American Cyanamid Co..................................................3
American Standard.....................................................2
AMP...................................................................1
Anheuser-Busch........................................................1
Archer Daniels Midland Co.............................................1
Armstrong World Industries............................................1
Ashland Oil...........................................................3
AT&T..................................................................2
AZP Group (Arizona Pub. Serv.)........................................1
Bankers Trust.........................................................3
Barnett Banks of Florida..............................................1
Baxter Travenol Laboratories..........................................1
Boeing Co.............................................................4
Borden................................................................1
Burlington Industries.................................................2
Burlington Northern...................................................2
Carolina Power & Light Co.............................................2
Carpenter Technology Corp.............................................1
Centex Corp...........................................................3
Central and South West Corp...........................................2
Champion International Corp...........................................3
Citizens and Southern Ga. Corp........................................2
Cleveland Electric Illum. Co..........................................1
Combined International Corp...........................................1
Comerica..............................................................4
Commonwealth Edison Co................................................1
Continental Telecom...................................................1
Coors (Adolph) Co.....................................................1
Corning Glass Works...................................................2
CSX Corp..............................................................2
Cubic Corp............................................................1
Dun & Bradstreet Corp.................................................2
DuPont................................................................3
Englehard Corp........................................................2
Federal Paper Board Co................................................3
First Executive Corp..................................................2
First Interstate Bancorp..............................................2
First Union Corp......................................................1
Foster Wheeler Corp...................................................1
FPL Group (Fla. Power & Light)........................................1
General Dynamics......................................................4
General Electric......................................................3
General Mills.........................................................3
General Public Utilities Corp.........................................1
Georgia-Pacific Corp..................................................2
Goodyear Tire & Rubber Co.............................................1
Grace (W.R.) & Co.....................................................2
Great Northern Nekoosa................................................3
Greyhound Corp........................................................5
Grumman Corp..........................................................4
Gulf States Utilities Co..............................................1
Gulf+Western Industries...............................................1
Harris Bankcorp.......................................................1
Harris Corp...........................................................2
Harsco Corp...........................................................1
Hewlett-Packard Co....................................................1
HNG InterNorth........................................................1
Hormel (Geo. A.) & Co.................................................1
Household International...............................................1
Houston Industries....................................................1
IC Industries.........................................................1
Illinois Power Co.....................................................1
International Multifoods..............................................2
International Paper Co................................................2
Internat'l Minerals & Chemical........................................2
Jim Walter Corp.......................................................2
Leaseway Transportation Corp..........................................2
Lockheed Corp.........................................................4
MAPCO.................................................................1
Martin Marietta Corp..................................................2
McDonnell Douglas Corp................................................1
Media General.........................................................1
Mellon Bank Corp......................................................1
Middle South Utilities................................................4
Mitchell Energy & Dev. Corp...........................................4
Mobil Corp............................................................1
Morgan (J.P.) & Co....................................................1
M/A-COM...............................................................2
Niagara Mohawk Power Corp.............................................2
Northern Indiana PSC..................................................2
Northern States Power Co..............................................2
Northrop Corp.........................................................2
Ohio Edison Co........................................................2
Overseas Shipholding Group............................................2
Owens-Corning Fiberglas Corp..........................................1
Owens-Illinois........................................................1
Pacific Gas and Electric Co...........................................1
Pacific Lighting Corp.................................................2
PacifiCorp (Pac. Power & Light).......................................1
Panhandle Eastern Corp................................................4
Pennsylvania Power & Light Co.........................................2
Pennzoil Co...........................................................1
Pepsico...............................................................3
Philadelphia Electric Co..............................................2
Phillips Petroleum Co.................................................1
Piedmont Aviation.....................................................2
Pittway Corp..........................................................1
Prime Computer........................................................1
RCA...................................................................2
Rockwell International................................................1
Rohm and Haas.........................................................1
Senta Fe South'n Pacific Corp.........................................2
SCM Corp..............................................................1
Scott Paper Co........................................................2
Sears, Roebuck & Co...................................................1
Singer Co.............................................................3
Southeast Banking Corp................................................2
Southern California Edison Co.........................................1
Southwest Airlines Co.................................................2
Sperry Corp...........................................................1
Sun Chemical Corp.....................................................2
Sundstrand Corp.......................................................2
Tektronix.............................................................2
Tenneco...............................................................2
Texaco................................................................3
Transamerica Corp.....................................................4
Tribune Co............................................................2
TRW...................................................................1
Tyson Foods...........................................................3
Union Camp Corp.......................................................4
Union Electric........................................................2
Unocal Corp...........................................................1
USG Corp. (U.S. Gypsum)...............................................1
U.S. Bancorp..........................................................3
Westinghouse Electric Corp............................................2
Westvaco Corp.........................................................1
Weyerhaeuser Co.......................................................2
Xerox.................................................................3
                                 TOTALS

       Number of companies paying zero or less in taxes in at 
     least one year, 1981-1985--130 out of 250 companies.
       Profits in the no-tax years--$72.9 billion.
       Total tax rebates in the no-tax years--$6.1 billion.
       Average tax rate in the no-tax years---8.3 percent.
       

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