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.
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.
The FACT (Financial Accountability and Corporate Transparency) Coalition expressed its disappointment today with the passage of the tax extenders package as it still includes two wasteful offshore loopholes that allow U.S. companies to dodge billions worth of taxes.
The FACT (Financial Accountability and Corporate Transparency) Coalition today submitted comments to the Treasury Department praising their previous actions to limit inversions while also calling for additional measures.
The FACT Coalition submitted the attached comments to the U.S. Treasury Department in December 2014 regarding the Department’s guidance on corporate tax inversions.
While the dust is still settling from the mid-term elections and the pundits are trying to figure out what it all means, the American people have made their collective voices heard and delivered a message that they do not like the country’s direction. Exit polling data from Election Day showed clear majorities in against growing corporate influence on the political process and in favor of greater corporate accountability. The message is clear: Inversions must stop, corporate tax avoidance must end, and special corporate loopholes must close.
