Press Releases & Statements | Page 25

New Bill Removes Tax Incentives to Move Jobs, Profits Offshore

February 27, 2018

“No Tax Breaks for Outsourcing Act” Would Close Loopholes in Tax Code that Encourage Offshore Tax Avoidance
WASHINGTON, D.C. – New legislation introduced Tuesday would equalize the tax rates for domestic businesses and multinational corporations — reducing the tax incentives to shift jobs and profits overseas that were enacted under the recent tax overhaul, according to the Financial Accountability and Corporate Transparency (FACT) Coalition.

New Report: U.S. the 2nd Biggest Tax Haven in the World

January 30, 2018

America Surpasses Cayman Islands, Second Only to Switzerland in Tax Justice Network’s Rankings of the World’s Largest Secrecy Jurisdictions
WASHINGTON, D.C. – The United States has become the second largest tax haven in the world, according to a new report published Tuesday by the Tax Justice Network.

Tax Bill Threatens U.S. Jobs

December 20, 2017

Fuels Tax Haven Industry and Increases Incentives to Move Operations Offshore
WASHINGTON, D.C – Today, Congress passed the Tax Cuts and Jobs Act (H.R.1), and the President has indicated he will soon sign it into law. Among its many provisions, the bill changes the way in which corporations are taxed.

Committee Advances Bill to Target Financing of Human Trafficking

December 13, 2017

House Financial Services Committee Votes Unanimously in Favor of the End Banking for Human Traffickers Act of 2017 (H.R.2219)
WASHINGTON, D.C. – The U.S. House Financial Services Committee on Wednesday voted unanimously to advance legislation targeting the financing of human trafficking, in a move welcomed by the Financial Accountability and Corporate Transparency (FACT) Coalition.

House Committee Votes to Repeal Anti-Corruption Safeguard

December 13, 2017

Rolling Back Extractives Transparency Measure Will Hamper U.S. National Security
WASHINGTON, D.C. – The U.S. House Financial Services Committee voted 33-27 Wednesday to repeal a bipartisan anti-corruption safeguard — Section 1504 of the Wall Street Reform and Consumer Protection Act of 2010 — in a move that was criticized by the Financial Accountability and Corporate Transparency (FACT) Coalition.

Senate Votes to Increase Tax Avoidance, Offshore U.S. Jobs

December 2, 2017

Bipartisan Voices Agree that Senate Bill Will Increase Shifting of Production Overseas and Profits to Tax Havens
WASHINGTON, D.C. – The U.S. Senate on Saturday passed its own version of the “Tax Cuts and Jobs Act” — legislation that will reward offshore tax haven abuse and increase the incentive to outsource American jobs abroad, according to the Financial Accountability and Corporate Transparency (FACT) Coalition.