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 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.
The FACT Coalition sent the attached letter to the Senate Finance Committee in July 2014 regarding principles and options for reforming the business tax code.
In recognition of its efforts on corporate issues, the Financial Accountability and Corporate Transparency (FACT) Coalition was awarded the Arca Foundation’s Smith Bagley Memorial Grant.
As the nation pauses to mark its birthday with celebrations and fireworks displaying pride in country and patriotism, the FACT (Financial Accountability and Corporate Transparency) Coalition is marking the day by expressing its view on tax loopholes that are encouraging quintessentially American companies to renounce their citizenship when it comes to paying taxes.
The FACT Coalition and Americans for Tax Fairness sent the attached letter to Senators in June 2014 regarding the tax extenders.
