Read FACT policy director Zorka Milin’s full testimony from the April 21 Congressional Progressive Caucus shadow hearing, “Visions of an Affordable Life: Taxing Corporate Greed”.
Amid skyrocketing oil prices and concerns about ordinary Americans subsidizing Big Oil’s expected superprofits at the pump, new disclosures show how the U.S. continues to inadequately tax its oil majors.
“In striking down this rule, the district court in Texas has just sided with cartels, money launderers, and U.S. adversaries and given them free license to continue moving their dirty cash through U.S. real estate.” – Ian Gary, executive director of the FACT Coalition.
New disclosure requirements show that huge American corporations lowered their tax bills by billions of dollars through the use of tax havens in 2025, while U.S. anti-abuse rules struggled to keep up.
The new tax information in companies’ annual financial reports represents an enormous improvement upon what was previously available, and is only the beginning of a wave of new disclosures pursuant to requirements advocated for by investors, FACT, and our allies.
Though the establishment of a new “side-by-side” regime exempting U.S. corporations is a regrettable and unnecessary setback, the OECD’s global minimum tax remains a generational leap forward in the fight against corporate tax avoidance.
