There is widespread agreement, across the political spectrum, that the gaming of the tax code by multinational corporations is a problem. When profits and jobs are shipped offshore, we not only harm the U.S. economy, we fuel a tax haven industry that drains wealth around the world. We seek to fix the problem of large, well-connected interests gaming the tax system.
In this month’s edition of Just the FACTs, FACT hosts an event at the intersection of financial transparency, tax fairness, and democratic renewal, and the Government Accountability Office releases a new report detailing risks associated with Treasury’s gutting of the Corporate Transparency Act.
Read a recap and watch the recording of FACT’s September 22 conversation with Vanessa Williamson (Brookings) and Casey Michel (Human Rights Foundation) exploring why good tax policy and financial transparency are essential to American democracy.
In this month’s edition of Just the FACTs, bipartisan outcry from lawmakers over Treasury’s move to gut the ownership reporting requirements for U.S. companies, and FACT’s research prompts new legislation to end tax subsidies for foreign oil and gas drilling.
In this month’s edition of Just the FACTs, FACT-endorsed corporate tax transparency legislation is reintroduced in the House and Senate, sparks fly at FinCEN’s annual HFSC oversight hearing, FACT announces an event bridging transparency issues and American democracy, and more.
Microsoft’s new financial disclosures demonstrate the challenge facing policymakers interested in taxing AI: massive investment in the sector is lowering tax collected today, and even when the technology becomes profitable loose international tax rules mean the U.S. might not get much new revenue.
In this month’s edition of Just the FACTs, Erica Hanichak and Zorka Milin are named FACT co-directors, Microsoft and other major multinationals release their first EU international tax reports, Julia Yansura contributes to hard-hitting reporting on Ecuadorian gold, and more.
