$83 Billion Tax Breaks for Big Tech: Corporate Power Under Fire

A recent report by the Institute on Taxation and Economic Policy revealed that six major companies received $83 billion in tax breaks, a sum exceeding the entire annual discretionary budget of the U.S. Department of Education.

The companies behind these massive tax breaks are Microsoft Corp., Alphabet Inc. (parent company of Google), Amazon.com, Inc., Meta Platforms Inc., JPMorgan Chase & Co., and Nvidia Corp.

Microsoft received a record $18.7 billion in federal income tax breaks, followed by Alphabet at $18.4 billion, Amazon at $17.4 billion, Meta at $13.7 billion, JPMorgan Chase at $8.3 billion, and Nvidia at $6.8 billion.

Senator Elizabeth Warren has spoken out against corporate power, stating that consolidation allows 'a handful of CEOs dictate what you watch on TV, which doctor you're allowed to see, what you eat' and other everyday choices.