[Congressional Record Volume 172, Number 75 (Wednesday, April 29, 2026)]
[House]
[Page H3136]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                              {time}  0910
        POWERFUL CORPORATIONS MUST PAY THEIR FAIR SHARE OF TAXES

  (Mr. MAGAZINER asked and was given permission to address the House 
for 1 minute and to revise and extend his remarks.)
  Mr. MAGAZINER. Mr. Speaker, last year, 88 of the most profitable 
companies in America paid zero in Federal income taxes. Citigroup made 
over $4 billion in its U.S. businesses last year, no Federal taxes 
paid; Halliburton nearly $1 billion and paid no taxes; Tesla more than 
$5 billion of profits and paid no taxes.
  How is it that in the United States of America the biggest and most 
powerful corporations pay less in taxes than the teachers, doctors, 
firefighters, and nurses whom I represent?
  How is that?
  Mr. Speaker, that is what happens when you have a city in Washington 
that is for sale. The wealthy and well-connected get tax breaks, and 
average people get stuck with the bill. This is why we need to get dark 
money out of elections. This is why we need to end congressional stock 
trading.
  This is why we need real ethics reform in Washington because until we 
have that, the wealthy and well-connected are going to continue to get 
tax breaks while working people get screwed.

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