Tesla and 113 other companies paid no current federal income tax, but they still aren’t the biggest threats to the federal deficit, think tank warns

The effective corporate income tax rate is now the lowest it's been in decades, and a tapering revenue source for the U.S. government is raising concerns among some policy experts. More than 700 profitable corporations paid 10.4% in current federal income taxes last year, according to a recent report from the Institute on Taxation and Economic Policy (ITEP), a progressive think tank—less than half of the 21% statutory federal corporate income tax rate. More than 250 of those companies paid effective tax rates below 7%, and 114 companies—including Tesla, Walt Disney, United Airlines, and DoorDash—paid no current federal income taxes, the report said.