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Corporate America Must Step Up to Save the Child Tax Credit [1]

['Adam Fishbein']

Date: 2024-03-11 19:31:02+00:00

The Hill

See article on original site

Five years ago, 181 CEOs signed a groundbreaking statement promising to lead their companies for the benefit of not just shareholders but also stakeholders — including customers, workers, suppliers, and the larger community.

While the pledge generated positive attention, it’s been the target of a major criticism: companies ultimately won’t do anything that undermines their own bottom lines. At the end of the day, CEOs have a fiduciary responsibility to their shareholders.

But, in Washington, the usual tension between social responsibility and shareholders’ interests has been momentarily suspended. In a high-stakes legislative fight, American corporations have the opportunity to support a law that would dramatically cut child poverty, while also substantially reducing their own tax burdens.

Read the full article here.

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[1] Url: https://cepr.net/corporate-america-must-step-up-to-save-the-child-tax-credit/

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