Tax Transparency | Page 32 | The FACT Coalition

Debunking the 35 Percent Corporate Tax Myth

March 10, 2017

For years, the number one tax policy talking point from corporate lobbyists has been the claim that the United States has the highest corporate tax rate in the world. The story then goes that this high tax rate is driving away business and Congress should move to dramatically lower it.

A new study by the Institute on Taxation and Economic Policy (ITEP) reveals the reality that while corporations face a statutory tax rate of 35 percent, the tax code is so packed full of tax breaks that over eight years our nation’s largest and most profitable corporations paid an average effective tax rate of just 21.2 percent.

Trump Voids Anti-Corruption Safeguard

February 14, 2017

President’s Action Likely to Raise Costs on American Businesses, Undermine National Security
WASHINGTON, D.C. — Clark Gascoigne, the deputy director of the FACT Coalition, issued the following statement in response to President Donald Trump’s signing of a Congressional Review Act resolution of disapproval (H.J.Res.41).

Congress Votes to Kill Anti-Corruption Safeguard

February 3, 2017

Rolling Back Extractives Transparency Measure Will Hamper National Security
WASHINGTON, D.C. – In one of the first substantive votes of the new Congress, the U.S. Senate utilized a controversial procedure and voted this morning (52-47) to kill a landmark anti-corruption measure, known as Cardin-Lugar (or Section 1504 of the Wall Street Reform and Consumer Protection Act of 2010)—in a move panned by non-partisan anti-corruption experts.

Letter to Senate Urging Lawmakers to Oppose Efforts to Overturn the Bipartisan Cardin-Lugar Anti-Corruption Measure

January 30, 2017

The FACT Coalition sent a letter to senators Monday urging them to reject a provocative Congressional Review Act resolution to nullify the bipartisan Cardin-Lugar anti-corruption provisions (Section 1504) of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.

Letter to House Urging Lawmakers to Oppose Efforts to Overturn the Bipartisan Cardin-Lugar Anti-Corruption Measure

January 26, 2017

The FACT Coalition sent a letter to House lawmakers Thursday urging them to reject a provocative Congressional Review Act resolution to nullify the bipartisan Cardin-Lugar anti-corruption provisions (Section 1504) of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.

House Attempts to Repeal Bipartisan Anti-Corruption Safeguard in Controversial Move

January 26, 2017

Rolling Back Extractives Transparency Measure Could Hamper National Security
Lawmakers in the House of Representatives are expected to introduce a controversial resolution to repeal a bipartisan anti-corruption safeguard, in a move panned by non-partisan anti-corruption experts.

Former Sen. Richard Lugar (R-IN) and Sen. Ben Cardin (D-MD) sponsored the Energy Security Through Transparency Act, as an amendment to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The provision protects U.S. national security and combats corruption in developing countries (particularly those plagued by extremist violence and conflict) by requiring oil, gas, and mining companies which report to the Securities and Exchange Commission to publicly report all payments made to host-governments.