For decades, ultra-rich billionaires, corporations, and Wall Street banks have engaged in a systematic effort to rig the economy to avoid paying what they owe in taxes. When these entities don’t pay what they owe, Black and Brown communities bear the burden of underfunded schools and insufficient essential public services. To win the thriving communities we deserve, we fight for moral budgets—budgets that invest in Black and Brown communities to repair harm with fully-funded, equitably distributed, publicly-owned, and locally-controlled services, paid for by mega-corporations, Wall Street, and the wealthy.
We work with grassroots partners on the municipal and state levels and through Bargaining for the Common Good on campaigns to resist austerity budgets and fight for moral budgets that ensure every community has the public service resources to recover, thrive, and survive the next crisis. Moral budgets make deep investments in Black and Brown communities by making: (1) Revenue more progressive by taxing the rich and corporations to pay what they owe, and (2) Expenses less regressive by ending practices that drain and harm communities. This includes ending payments to Wall Street banks on predatory public financing costs to reclaim more than $160 billion annually for communities, and divesting from the carceral state.
Most recently, we have been leading the Tax the Rich PHL campaign to pass a municipal wealth tax in Philadelphia, contributed to work in Chicago to stop vital stimulus money from being diverted towards Big Banks and the police, and coordinated actions across the country on Tax Day to call attention to corporations not paying what they owe.
Related reports & projects:
- Read coverage of our April 2022 press conference with EPI that shows over 60% of corporations in seven states where data is available so far paid $0 in state corporate income tax: Majority of Corporations Don’t Pay State Income Taxes in at Least 7 States
- Read our April 2021 report on the ultra-rich and corporate tax dodgers in Philadelphia: Revenue for a Just Recovery A Reparative and Restorative Approach to Funding City Services
- Read our September 2020 report proposing that elected officials demand that Wall Street banks and the Federal Reserve provide zero-interest loans to public sector borrowers: Cancel Wall Street: How Our State and Local Governments Can Save More Than $160 Billion a Year by Cutting Interest Payments to Investors
- Check out our Wall Street interest payment calculator to see how much your state, city, county, school district, transit system, or higher education institute could save from direct Fed lending.
- Read our February 2019 report on proposed policy changes for the city of Chicago: A World-Class City: A Financial Blueprint for the City Chicagoans Deserve