Policy Analysis

Briefing Memo: Tax Reform

Important Steps to Fix the Gaming of the Corporate Tax System

A common theme from both Democrats and Republicans in the recent election was the increasing problem that multinational companies are moving money and jobs offshore. These practices are encouraged by loopholes in the tax code, which encourage companies to move. These loopholes should be closed.

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Joint Letter to Congress Urging Beneficial Ownership Transparency in Procurement

The FACT Coalition joined 24 other organizations in sending a letter to the U.S. House of Representatives Committee on Oversight and Government Reform on October 28, 2016.  The letter calls upon Congress to urge the Administration to begin exploring alternatives for how contractors are identified without delay, to adopt a contractor identifier that is a non-proprietary, open system and that includes the collection and publication of beneficial ownership information.

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FACT Sheet: Questions & Answers about Territorial Corporate Tax Systems

A central theme of corporate tax reform is how to create a system that works in a global economy. Several proposals have called for a territorial corporate tax system — a system in which a company only pays taxes on what it claims as profits in a given country rather than looking at the companies’ global footprint.

Below are questions and answers about territorial tax systems as outlined in recent reform proposals.

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FACT Sheet: Offshore Tax Haven Abuse by the Numbers

Up to $180 billion: The amount that the U.S. loses in tax revenue to offshore tax haven abuse each year.

  • $111 billion: Lost U.S. revenue from profit shifting by multinational corporations annually.
  • $40-70 billion: Lost U.S. revenue to tax evasion by wealthy individuals annually.
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FACT Sheet: Offshore Tax Haven Abuse

Average Taxpayers and Small Business Owners Foot the Bill for Offshore Tax Loopholes

Many Large U.S.-Based Multinationals Avoid Paying U.S. Taxes by Using Accounting Tricks to Make Profits Made in America Appear to Be Generated in Offshore Tax Havens—Countries with Minimal or No Taxes.

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Towards a Sustainable Economy

A Review of Comments to the SEC’s Disclosure Effectiveness Concept Release

The FACT Coalition joined eight other groups—the AFL-CIO; Americans for Financial Reform; the Center for American Progress; Ceres; the International Corporate Accountability Roundtable; Patriotic Millionaires; Public Citizen; and US SIF: The Forum for Sustainable and Responsible Investment—in releasing a report analyzing the more than 26,000 comments received in response to the U.S. Securities and Exchange Commission’s April 2016 concept release on “Business and Financial Disclosure Required by Regulation S-K”.

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