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.
With two different and devastating announcements this week from the Joint Committee on Taxation and House Ways and Means Chairman Paul Ryan, the FACT (Financial Accountability and Corporate Transparency) Coalition believes the flawed proposal of a repatriation tax holiday has two huge strikes against it and is enough to declare it “Out!”
The FACT (Financial Accountability and Corporate Transparency) Coalition today submitted comments to the Senate Finance Committee¹s Business Income Tax and International Tax Working Groups calling for a number of substantive changes in the tax code to restore fairness and to close loopholes that allow U.S. multinational corporations to avoid taxes.
The FACT Coalition submitted the attached comments to the Senate Finance Committee’s Business Income and International Working Groups in April 2015 regarding principles and options for reforming the business tax code.
The FACT (Financial Accountability and Corporate Transparency) Coalition today released the following statement on the Obama Administration’s proposal regarding the taxation of foreign corporate profits. The statement is from Executive Director Rebecca Wilkins.
The FACT (Financial Accountability and Corporate Transparency) Coalition is praising the introduction today of the Stop Corporate Inversions Act by Senator Richard Durbin (D-IL) and Representative Sander Levin (D-MI).
The FACT (Financial Accountability and Corporate Transparency) Coalition today welcomed the introduction by Senator Sheldon Whitehouse (D-RI) and Rep. Lloyd Doggett (D-TX) of the Stop Tax Haven Abuse Act, which would close a number of loopholes used by corporations and wealthy individuals to avoid taxes.
