Close Tax Loopholes

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.

FACT Statement on Ways and Means Vote

“The House Ways and Means Committee should reject two tax breaks that benefit tax dodging corporations at the “expense of the rest of us. The controlled foreign corporation (CFC) look-through rule and the active financing exception have enabled multinational corporations to avoid U.S taxes by shifting profits to shell companies in tax havens around the globe.

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FACT Advocacy Days on Capitol Hill

Faith leaders, small business owners, activists, and others will be fanning out across Capitol Hill to tell lawmakers in both chambers and in both parties of the impact that offshore tax haven abuse and the use of anonymous shell companies are having on communities as the FACT (Financial Accountability and Corporate Transparency) Coalition kicks off its Advocacy Days.

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FACT Urges Chairman Wyden: Don’t Let First Major Action Favor Multinationals

With Senate Finance Committee Chairman Ron Wyden (OR) to begin consideration of renewing the set of expired tax breaks, or “tax extenders,” this week and embarking on the first major action of his chairmanship, the FACT (Financial Accountability and Corporate Transparency) Coalition is urging him to take a stand against multinational corporations that have used some of these extenders to avoid paying taxes and reject these egregious provisions.

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