1. United States
2. N.Y.
3. Letter

The Ending Corporate Greed Act proposes a 95% tax on excess profits of corporations with annual gross receipts exceeding $500 million. This aims to address exploitative practices by large corporations. The tax would apply to profits exceeding an average of inflation-adjusted profits from 2015-2019, up to 75% of a corporation's taxable income. While corporations play an essential role, they must not prioritize profits over people's wellbeing. This bill seeks to incentivize responsible business practices and reinvest in the workforce, communities, and economy. Curbing excessive corporate greed can foster a more equitable society for all.