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.
As Congress prepares to return to Washington for a post-election “lame duck” session, the FACT Coalition (Financial Accountability and Corporate Transparency) urges it to do the right thing and pass legislation to halt inversions as well as let the most egregious offshore tax extenders remain expired.
The FACT (Financial Accountability and Corporate Transparency) Coalition is today commending AbbVie Inc. on its announcement that the pharmaceutical maker has decided not to purchase the Ireland-based company, Shire Plc., and its decision to remain in the United States.
The FACT Coalition today issued the following responses on the new actions announced by the Treasury Department to limit corporate inversions.
The FACT (Financial Accountability and Corporate Transparency) Coalition applauds the introduction of legislation that would be a helpful step towards tax fairness if enacted along with the Stop Corporate Inversions Act, which was introduced in the House and Senate in May.
The FACT (Financial Accountability and Corporate Transparency) Coalition today released the following statement on the introduction of the No Federal Contracts for Corporate Deserters Act.
With U.S. corporations fleeing, or planning to flee, the country to avoid taxes, and the Senate Finance Committee scheduled to hold hearings on the U.S. tax code with an emphasis on corporate inversions, the FACT (Financial Accountability and Corporate Transparency) Coalition supports efforts to ensure that U.S. multinational corporations remain in the country and pay their fair share of taxes.
