The House Tax Plan Won’t Stop Big Companies from Gaming the System
Since tax dodging via tax havens and other methods would continue among the largest players, it seems misleading to say to the public that the House plan would end the gaming.
Legalized Cheating
Massive corporations are cheating us out of trillions of dollars that our infrastructure desperately needs. And none of it is illegal.
Crumbling bridges, abandoned schools, stalled plans for green energy—name a problem with American infrastructure, and someone will tell you the issue is a simple lack of funds.
Debunking the 35 Percent Corporate Tax Myth
For years, the number one tax policy talking point from corporate lobbyists has been the claim that the United States has the highest corporate tax rate in the world. The story then goes that this high tax rate is driving away business and Congress should move to dramatically lower it.
A new study by the Institute on Taxation and Economic Policy (ITEP) reveals the reality that while corporations face a statutory tax rate of 35 percent, the tax code is so packed full of tax breaks that over eight years our nation’s largest and most profitable corporations paid an average effective tax rate of just 21.2 percent.
New Bill Takes Aim at Offshore Tax Avoidance
FACT Coalition Statement on Corporate Tax Dodging Prevention Act
WASHINGTON, D.C. – Legislation introduced by Sen. Bernie Sanders (I-VT), Sen. Brian Schatz (D-HI), and Rep. Jan Schakowsky (D-IL) Thursday takes aim at offshore tax avoidance by closing a number of loopholes in the tax code.
Video: Architect of House Tax Reform Blueprint Admits Major Flaws
At an event discussing the prospects for tax reform at the Urban-Brookings Tax Policy Center, Alan Auerbach, the architect of the GOP tax reform proposal, admits three major flaws with the plan.
The Border Adjustment Tax Creates More Problems Than It Solves
In recent weeks, the Republican congressional leadership’s effort to introduce a comprehensive tax reform bill has increasingly faced opposition from major business groups and skeptical lawmakers from across the aisle. The primary source of dissent thus far is that the most prominent tax framework, the House GOP’s “Better Way” tax blueprint, contains a radical provision to apply a border adjustment to pay for a cut in the rate from 35 to 20 percent.
A new report from the Institute on Taxation and Economic Policy (ITEP) released today finds that this border adjustment tax would be regressive and loophole-ridden and would likely violate international trade agreements.