Sen. Elizabeth Warren unveiled yet another bold policy for her 2020 presidential campaign Thursday with a new plan that aims to offset tax loopholes and exemptions exploited by the largest and most profitable U.S. corporations.\u0022Our corporate tax code is so littered with loopholes that simply raising the regular corporate tax rate alone is not enough.\u0022—Sen. Elizabeth Warren\u0022Some of the biggest corporations in the country make huge profits but pay zero federal corporate income taxes on those profits,\u0022 the Democrat from Massachusetts explained in a Medium post about the proposal. \u0022Our corporate tax code is so littered with loopholes that simply raising the regular corporate tax rate alone is not enough.\u0022To ensure that major corporations are paying their fair share, the Real Corporate Profits Tax would impose a 7 percent tax on American companies for all annual profits beyond $100 million—which would have applied to  about 1,200 public firms last year, according to Team Warren.The presidential hopeful, in February, vowed to build her campaign on \u0022ideas and principles\u0022 rather than through \u0022fancy receptions\u0022 and \u0022big money fundraisers.\u0022 Her new tax plan follows detailed proposals to establish universal childcare in the United States, help family farmers who are struggling to compete with Big Ag, and break up tech giants like Amazon, Facebook, and Google.Her latest announcement comes shortly before Tax Day, and as a new analysis reveals that under the \u0022GOP tax scam\u0022 that President Donald Trump signed in late 2017, twice as many corporations are paying no taxes compared with previous years—despite making billions of dollars in profits.\u0022If you\u0026#039;ve already filed your taxes this year, chances are you paid more than a lot of the big corporations,\u0022 Warren pointed out in a series of tweets Thursday morning.Big corporations have lobbied relentlessly to fill our corporate tax rules with so many loopholes and exemptions that even when they report a billion dollars in profits to their investors and the public, they can report much lower “profits” to the IRS—and pay no taxes on them.— Elizabeth Warren (@ewarren) April 11, 2019Outlining the need for the new tax, Warren explained that \u0022there are two sets of rules for reporting a company\u0026#039;s profits.\u0022Companies follow established financial accounting rules to calculate the value of the profits they report to shareholders and the public. But they follow a different set of tax accounting rules to calculate the \u0022profits\u0022 they report to the IRS and pay corporate income taxes on. Because of relentless lobbying, our corporate income tax rules are filled with so many loopholes and exemptions and deductions that even companies that tell shareholders they have made more than a billion dollars in profits can end up paying no corporate income taxes.\u0022We need corporate tax reform,\u0022 she added, \u0022but we also need to recognize that enormous companies with armies of lawyers and accountants will always try to exploit any deductions and exemptions that remain.\u0022Warren\u0026#039;s \u0022small new tax\u0022 targeting the nation\u0026#039;s \u0022richest, biggest corporations\u0022 would help \u0022level the playing field for small businesses trying to compete with the giants,\u0022 she charged. It would also generate massive revenue that the government could put toward serving the public good.Overall, according to an analysis (pdf) from by a pair of economists at the University of California, Berkeley, the new tax would raise $1.05 trillion on public companies in just the next decade. Amazon, for example, \u0022would pay $698 million in taxes instead of paying zero.\u0022As Warren concluded an email to supporters Thursday, \u0022Let\u0026#039;s make this year the last year any company with massive profits pays zero federal taxes.\u0022So today I’m proposing a new idea: Tax the *real profits* very large American companies report to their investors—no loopholes or exemptions—and let’s make this year the last year any company with massive profits pays zero federal taxes. https://t.co/S19xs0qmA7— Elizabeth Warren (@ewarren) April 11, 2019This post has been updated to clarify Sen. Elizabeth Warren\u0026#039;s other 2020 proposals.