Sen. Elizabeth Warren (D-Mass) on Sunday warned that a small group of powerful companies is capturing an outsized share of federal tax benefits while everyday Americans struggle to afford basics like groceries and doctor visits.
‘Let That Sink in’
Warren, in a post on X, said that just six companies collected $83 billion in federal tax breaks last year, while millions of Americans were struggling to cover basic expenses.
“Let that sink in,” the senator added.
The Six Companies Behind the Numbers
According to a report by the Institute on Taxation and Economic Policy earlier this month, those six companies accounted for more than 40% of all corporate tax breaks tracked in 2025, a sum exceeding the entire annual discretionary budget of the U.S. Department of Education.
The report identified the companies as Microsoft Corp. (NASDAQ:MSFT), which received a record $18.7 billion in federal income tax breaks, followed by Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL) at $18.4 billion, Amazon.com, Inc. (NASDAQ:AMZN) at $17.4 billion, Meta Platforms Inc. (NASDAQ:MSFT) at $13.7 billion, JPMorgan Chase & Co. (NYSE:JPM)at $8.3 billion, and Nvidia Corp. (NASDAQ:NVDA) at $6.8 billion.
A Broader Warning on Corporate Power
On Saturday, Warren said corporate consolidation lets “a handful of CEOs dictate what you watch on TV, which doctor you’re allowed to see, what you eat” and other everyday choices, calling on regulators to “block mega-mergers.”
In the health care sector, Warren has previously cited UnitedHealth Group Inc. (NYSE:UNH) and CVS Health Corp. (NYSE:CVS) as examples of vertical integration and backed the bipartisan Patients Before Monopolies Act, which would bar common ownership of pharmacy benefit managers and pharmacies.
According to economist Stephen Moore, Americans now pay more in taxes than they spend on food, clothing and housing combined, calling the government “so big and bloated” that “every American taxpayer should be outraged.”
Benzinga edge rankings show Microsoft’s stock has a Momentum score in the 71st percentile and a Growth score in the 96th percentile.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo Courtesy: Bryan J. Scrafford on Shutterstock.com
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