More than 100 U.S. companies are paying an average effective tax rate of 1.1%, according to new data. The data was released on Thursday by Senate Finance Committee Chair Ron Wyden, a Democrat from Oregon. The analysis of the data was done by the Joint Committee on Taxation, a nonpartisan entity within Congress.

Democratic Sen. Wyden is pushing to impose a minimum of 15% tax on profits that billion-dollar companies earn. “Our corporate minimum tax is a back-stop to ensure that the most profitable mega-corporations are not paying no taxes at all while reporting record profits to their shareholders,” Wyden said.

Republicans say higher corporate taxes would hurt the U.S. economy. Senator Mike Crapo: "Nothing makes their blood boil like the most profitable mega-corporations paying little to no taxes" National Association of Manufacturers: "This would be a reduction of our gross domestic product"

Dalio: "These numbers show, very graphically, where the burden of this tax falls" The hedge-fund pioneer has strong views on where the economy is headed. Hear from Ray Dalio at the Best New Ideas in Money Festival on Sept. 21 and Sept. 22.
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