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.

Congress Must Seize Rare Moment to Pass Needed International Tax Reforms

With the Senate finalizing its bipartisan infrastructure deal and a $3.5 trillion budget resolution well on its way to a vote, it is nearly reconciliation season in Washington. The combined legislative package, which tracks closely to President Biden’s Build Back Better agenda, has received high marks from analysts for its ability to generate long-term economic growth by funding long overdue investments in hard and human infrastructure.

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FACT Sheet: The Urgent Case for U.S. International Tax Reform

Concerns about competitiveness and how the OECD negotiations may interact with U.S. international tax reform consistent with the President’s Made in America Tax Plan, the Senate Finance Committee Framework for International Tax Reform, and the No Tax Breaks for Outsourcing Act, or NTBOA (H.R. 1785), are overstated—or, worse—purposefully misleading. To improve competitiveness for American working families and domestic businesses, and to ensure an OECD agreement is reached, Congress should act now on U.S. international tax reform.

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