
FACT Issues Response to Treasury Actions to Limit Corporate Inversions
The FACT Coalition today issued the following responses on the new actions announced by the Treasury Department to limit corporate inversions.
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 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.
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.