FOR IMMEDIATE RELEASE
November 26, 2014
FACT Statement on Emerging Tax Extenders Compromise
$400 Billion in Tax Loopholes Are a Bad Deal for America
Washington, DC – The FACT (Financial Accountability and Corporate Transparency) Coalition today issued the following statement on the tax extenders compromise legislation that is taking shape on Capitol Hill.
Rebecca Wilkins, Senior Counsel, Federal Tax Policy, Citizens for Tax Justice, Member of FACT Steering Committee:
“While some families are wondering how to put turkey on the table this Thanksgiving, Congress has shown that they are all too eager to carve up federal revenue and give $400 billion in tax breaks, much of it to already prosperous corporations. The most outrageous of these are the loopholes that allow corporations like Google, Apple, Citigroup, and General Electric to shift profits offshore and avoid paying their fair share of taxes. Congress should heed the President’s veto threat and kill this bad plan.”
Founded in 2011, the Financial Accountability and Corporate Transparency (FACT) Coalition unites civil society representatives from small business, labor, government watchdog, faith-based, human rights, anti-corruption, public-interest, and international development organizations. We seek an honest and fair corporate tax code, greater transparency in corporate ownership and operations, and commonsense policies to combat the facilitation of money laundering and other criminal activity by the legitimate financial system.