As Americans Struggled to Buy Basics, These 6 Companies Got $83 Billion in Tax Breaks Last Year

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Article by Jessica Corbett republished from Common Dreams under Creative Commons (CC BY-NC-ND 3.0). 

People take part in a protest against the Republican tax bill in Los Angeles, California on December 4, 2017. (Photo by Ronen Tivony/NurPhoto via Getty Images)

“This is an extraordinary concentration of tax benefits among some of the biggest and most profitable companies in the world,” said an ITEP senior fellow.

As with the GOP’s 2017 tax legislation, experts warned that big businesses and ultrarich individuals would benefit from President Donald Trump signing the One Big Beautiful Bill Act last year, while everyday Americans would suffer, and a Monday analysis identifies some of the companies now paying billions of dollars less in taxes.

The Institute on Taxation and Economic Policy (ITEP) “has tracked $204 billion in federal tax breaks disclosed by publicly traded US companies so far for 2025,” the report says. “But those benefits were not spread evenly across the corporate sector: Six companies alone accounted for $83 billion of them.”

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The publication points out that “the stunning size of the federal income tax breaks corporations claimed this year dwarfs past corporate tax breaks, themselves sizeable. Microsoft received $18.7 billion in federal income tax breaks, a record high for single-year federal tax breaks for one publicly traded company. Alphabet claimed a staggering $18.4 billion, and Amazon walked away with $17.4 billion in tax breaks. Meta received $13.7 billion, JPMorgan Chase received $8.3 billion, and Nvidia received $6.8 billion.”

To put that $83 billion into context, the report highlights that it “represents nearly 18%, or almost $1 out of ever $5, of total federal corporation tax collections according to the Congressional Budget Office.” It also “exceeds the entire annual discretionary budget of the US Department of Education,” which Trump is notably aiming to eliminate as part of a broader mission to gut the federal government in his second term.

“This is an extraordinary concentration of tax benefits among some of the biggest and most profitable companies in the world,” report co-author and ITEP senior fellow Matthew Gardner said in a statement. “When six companies can collect tax breaks equal to nearly one-fifth of what the federal government raises from the corporate income tax altogether, policymakers should be asking whether these provisions are serving the public interest or simply rewarding companies that are already enormously profitable and politically influential.”

Gardner and his co-author, ITEP intern Sarah Buttikofer, emphasized that the top four firms featured in their analysis are tech giants: “Microsoft, Alphabet, Amazon, and Meta collectively received $68 billion in federal income tax breaks—which represents roughly 33% of the overall total.”

“These figures show what Americans intuitively know: Corporate profits and economic power are increasingly concentrated among a relatively small number of extremely large companies,” the pair wrote. “The presence of half a dozen tech CEOs at Donald Trump’s January 2025 inauguration was a stark reminder that the economic leverage these companies are gaining is being translated into political power as well. That makes the tax treatment of these companies especially important.”

Amazon founder Jeff Bezos and Meta CEO Mark Zuckerberg were among the Big Tech executives with prime seating at the inauguration. There was also the world’s richest man, Elon Musk, who went on to help Trump rip apart the federal workforce as the de facto leader of the so-called Department of Government Efficiency.

To put these enormous tax breaks in context, the largest single-year tax break we've documented for any corporation before 2025 was J.P. Morgan’s $5.2 billion haul in 2024.itep.org/six-companie…

ITEP (@itep.org) 2026-08-14T16:18:22.723Z

Musk leads various businesses, including Tesla, which was among 88 companies that paid no federal income tax last year, despite making almost $5.7 billion, according to an April analysis from ITEP. The others range from airlines and banks to energy, entertainment, and tech companies, such as Citigroup, Edison International, Palantir, United, and Walt Disney.

Meanwhile, near the end of last year, as Trump dismissed affordability concerns, an Associated Press-NORC Center for Public Affairs Research poll found that only 31% of voters approved of Trump’s handling of the economy, the survey’s lowest figure for his two terms.

Then, a January analysis by Democrats on the Joint Economic Committee revealed that the average American family paid $1,625 in higher costs last year as his policies drove up prices.

That was followed by a February warning from the Economic Policy Institute that Trump’s economic agenda “will make ordinary families reliably poorer in the future.” EPI’s chief economist, Josh Bivens, pointed to the president’s anti-labor policies, cuts to federal spending and jobs, mass deportation efforts, and tariffs—as well as the OBBBA, which gave tax breaks to the rich while stripping healthcare and food assistance from Americans in need.

With the US now enduring the consequences of Trump’s war of choice on Iran, inflation remains high. Americans are struggling with the cost of gasolinegrocerieshealthcarehousing, and more. After the latest figures were released last week, Alex Jacquez, a former Obama administration official who is now senior vice president of policy and advocacy at Groundwork Collaborative, said that “prices started climbing again in July, and Trump’s catastrophic mismanagement of our economy means more spikes in the months ahead.”

Article by Jessica Corbett republished from Common Dreams under Creative Commons (CC BY-NC-ND 3.0). 

Elon Musk urges you to be a Fascist like him, says that you can ignore facts and reality then.
Elon Musk urges you to be a Fascist like him, says that you can ignore facts and reality then.
Climate science denier Donald Trump confirms that he knows nothing about democracy and that more liquid gold is being secured according to his policy of global privateering.
Climate science denier Donald Trump confirms that he knows nothing about democracy and that more liquid gold is being secured according to his policy of global privateering.
Orcas discuss Donald Trump and the killer apes' concept of democracy. Front Orca warns that Trump is crashing his country's economy and that everything he does he does for the fantastically wealthy.
Orcas discuss Donald Trump and the killer apes’ concept of democracy. Front Orca warns that Trump is crashing his country’s economy and that everything he does he does for the fantastically wealthy.

Continue ReadingAs Americans Struggled to Buy Basics, These 6 Companies Got $83 Billion in Tax Breaks Last Year

Trump’s NOAA Will Stop Tracking Costliest Climate Disasters

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Original article by Julia Conley republished from Common Dreams under Creative Commons (CC BY-NC-ND 3.0). 

Damaged structures and homes are seen after the Palisades fire in the Pacific Palisades neighborhood of Los Angeles on January 11, 2025.
 (Photo: Axelle/Bauer-Griffin/GC Images)

“Their philosophy is, if we ignore it, it’s not a problem,” said one meteorologist.

On the heels of the news that higher-than-average temperatures continued globally in April, one of the United States’ top science agencies announced Thursday that it will no longer update a database that tracks climate disasters that cause billions of dollars in damage.

As of Thursday, the Billion Dollar Weather and Climate Disasters database on the National Oceanic and Atmospheric Administration’s (NOAA) website was replaced with a message saying there have been no such events in 2025 through April 8.

That flies in the face of an analysis by the National Centers for Environmental Information, which has maintained the database and said before it was taken down that six to eight billion-dollar climate disasters have happened so far this year, including the wildfires that devastated parts of Los Angeles in January and caused an estimated $150 billion in damage.

The World Weather Attribution said in late January that planetary heating, fueled by greenhouse gas emissions, caused weather conditions in Southern California that made the fires 35% more likely.

Hundreds of people have been laid off from NOAA in recent weeks as the so-called Department of Government Efficiency, led by billionaire tech CEO Elon Musk, has pushed to slash government spending, and those who have lost their jobs include scientists who helped maintain the database.

NOAA spokesperson Kim Doster told The Washington Post that in addition to staff changes, “evolving priorities” were also partially behind the retiring of the database, which will now show disasters that occurred only between 1980-2024.

Between 2020-24, the number of billion-dollar disasters averaged 23 per year, compared to just a few per year in the 1980s.

“This Trump administration move is the dumbest magic trick possible: covering their eyes and pretending the problem will go away if they just stop counting the costs. Households across the country already have to count these costs at their kitchen table as they budget for higher insurance costs and home repairs. Families and retirees dipping into their savings or going bankrupt to recover from wildfires and hurricanes know what disasters cost,” said Carly Fabian, senior insurance policy advocate with Public Citizen’s Climate Program. “Hiding the national tallies will only undermine our ability to prepare and respond to the climate crisis. Deleting the data will exacerbate the devastating delays in acting to slow climate change, and the impacts it is having on property insurance and housing costs.”

NOAA’s “evolving priorities” have also included decommissioning other datasets, including one tracking marine environments and one tracking ocean currents.

Without NOAA’s Billion Dollar Weather and Climate Disasters database, Jeremy Porter, co-founder of the climate risk financial modeling firm First Street, told CNN that “replicating or extending damage trend analyses, especially at regional scales or across hazard types, is nearly impossible without significant funding or institutional access to commercial catastrophe models.”

“What makes this resource uniquely valuable is not just its standardized methodology across decades, but the fact that it draws from proprietary and nonpublic data sources (such as reinsurance loss estimates, localized government reports, and private claims databases) that are otherwise inaccessible to most researchers,” he said.

Chris Gloninger, a meteorologist who resigned from an Iowa news station after receiving threats for his frank, science-based coverage of climate disasters, said the retiring of the database suggests the Trump administration is “okay with spending billions of dollars on disasters.”

“Every dollar that we spend on mitigation or adaptation saves $13 in recovery costs,” said Gloninger. “But their philosophy is, if we ignore it, it’s not a problem.”

Original article by Julia Conley republished from Common Dreams under Creative Commons (CC BY-NC-ND 3.0). 

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Neo-Fascist Climate Science Denier Donald Trump says Burn, Baby, Burn.
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Continue ReadingTrump’s NOAA Will Stop Tracking Costliest Climate Disasters

US stands on the brink of a constitutional crisis as Donald Trump takes on America’s legal system

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Neo-Fascist Climate Science Denier Donald Trump says Burn, Baby, Burn.
Neo-Fascist Climate Science Denier Donald Trump says Burn, Baby, Burn.

Anne Richardson Oakes, Birmingham City University

As the 19th-century French political philosopher, Alexis de Tocqueville, memorably observed, Americans have a tendency to fight their political battles in court. Barely two months into his presidency, Donald Trump is demonstrating increasing frustration as trade unions, civil rights organisations and states attorneys general challenge the implementation of his policies with lawsuits alleging presidential overreach that undermines the constitutional separation of powers.

More than 130 lawsuits are now pending. As a result, federal courts have put on hold key policies of the Trump administration and Trump lawyers have lodged emergency petitions invoking Supreme Court intervention.

First to face court check was the federal funding freeze order. This was swiftly followed by court rulings against the birthright citizenship order. This controversial measure would withdraw citizenship for children born in the United States to undocumented or non-citizen parents who are in the country legally but temporarily.


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Donald Trump decrees forbidden terms denying sexual diversity. Image added by https://onaquietday.org

Another court ruling has overturned the Pentagon’s ban on transgender people enlisting in the US armed forces. Yet another has blocked the Department of Government Efficiency’s (Doge’s) access to treasury department records containing the personal financial details of millions of Americans.

This was blocked for the very fundamental grounds that this has not been authorised by Congress and is not within the scope of the presidential power. Whether Doge can even exist without Congressional authority is also in contention.

The president’s increasing anger with the courts erupted on March 18. The US president launched an astonishing personal attack on a US federal judge who ruled against the summary deportation of alleged members of the Venezuelan Tren de Aragua gang and ordered the administration to turn around the plane carrying them that had already taken off.

Donald Trump's post of TruthSocial calling for a judge to be impeached.
The US president calls for a judge to be impeached. TruthSocial.

Trump’s call for Judge James Boasberg to be impeached prompted a rare intervention from Supreme Court chief justice John Roberts. Roberts condemned the impeachment call in a statement that did not name the president but was clearly intended as a rebuke and a reminder of the constitutional boundaries that guarantee the role of the judiciary as the equal third branch of government.

Unrepentant, Trump doubled down the next day on TruthSocial calling Judge Boasberg a “Radical Left Lunatic Judge” who wanted “to assume the role of president”. His charge was then echoed by White House press secretary Karoline Leavitt who accused the judiciary generally of attempting to paralyse the administration’s programme, usurp the power of the president and undermine the will of the American people.

White House press secretary Karoline Leavitt on Judge James Boasberg.

Despite Judge Boasberg’s order, the plane carrying the Venezuelans did not turn back. The administration has denied wrongdoing and Judge Boasberg has yet to impose any penalty.

This was not the first occasion that the administration has appeared to openly defy court orders. The previous week Dr Raiza Alawieh, a Brown University professor with an American visa was deported despite an order from a federal judge in Boston requiring that the court be given advance notice before the government attempted to remove her.

All eyes on the Supreme Court

All these cases are likely to go to the US Supreme Court. As its name suggests, this is the highest level of the judiciary in the US. It has the final say on what the US constitution means and authorises. At issue will be the scope of the presidential power – and the outcome is uncertain.

It’s important to bear in mind that the court now has a six-to-three majority of conservative justices – three of whom were Trump nominees. We also need to be aware that this court, in a previous ruling, considerably extended the scope of presidential immunity to cover all official “core acts” so that, whatever the outcome, the president himself is unlikely to attract personal liability.

But we do know that the Supreme Court’s ruling on a constitutional issue is final – and that all government officials at federal and state level will be required to respect it. The fear now is that the administration may go ahead regardless in which case we will find ourselves in unknown constitutional territory.

To find parallels we could go back to the desegregation era of the middle of the 20th century and specifically to Little Rock in Arkansas where the then governor, Orval Faubus, called out the national guard to prevent the court-ordered desegregation of the local high school.

The ensuing crisis ended when the then president, Dwight D. Eisenhower, sent in federal troops to enforce the court order. The US Supreme Court unanimously declared that its interpretations of what the constitution required were the supreme law of the land, which bound the governor and the state legislature.

The chief justice of that era, Earl Warren, later regarded this ruling (Cooper v Aaron) as the most important of his time on the Supreme Court – more important even than the actual desegregation decision itself (Brown v Board of Education).

It is clear that the judicial branch depends upon the executive to put its orders into effect and demonstrate respect for the rule of law and the separation of powers. But we now see a president who demonstrates open hostility to judges whom he considers have opposed him. His administration has also begun to vindictively target with punitive blocking orders the big law firms who assisted in the prosecutions brought against him before he took office.

Does a constitutional crisis loom? How all this plays out remains to be seen.

Anne Richardson Oakes, Associate Professor and Director: Centre for American Legal Studies, Birmingham City University

This article is republished from The Conversation under a Creative Commons license. Read the original article.

Elon Musk urges you to be a Fascist like him, says that you can ignore facts and reality then.
Elon Musk urges you to be a Fascist like him, says that you can ignore facts and reality then.
Continue ReadingUS stands on the brink of a constitutional crisis as Donald Trump takes on America’s legal system