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).
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.
Statement by FACT Deputy Executive Director Clark Gascoigne
WASHINGTON, D.C. – The offshore companies controlled by Treasury Secretary-designate Steven Mnuchin featured prominently in his Senate confirmation hearings held last week in Washington. It was revealed that the former investment banker managed companies with assets in Anguilla and the Cayman Islands, both widely recognized as tax havens.
Multinational Companies Dodging $147 Billion Annually in State and Federal Taxes through Offshore Tax Schemes
WASHINGTON, D.C. – A new report from U.S. PIRG Education Fund finds that multinational companies dodge an estimated $147 billion in federal and state taxes annually through offshore tax haven loopholes. The report explains the staggering cost to small businesses and individual taxpayers, who are forced to shoulder the increased tax burden.
Treasury Finalizes Anti-Inversion Rules Tackling “Earnings Stripping”
WASHINGTON, D.C. – The U.S. Department of the Treasury finalized a long-awaited rule Thursday aimed at countering multinational tax avoidance, in a move welcomed by the Financial Accountability and Corporate Transparency Coalition (FACT Coalition).
New Analysis Underscores Need to End Deferral, Boost Transparency of Companies’ Offshore Tax Practices
WASHINGTON, D.C. – The largest American companies have stashed nearly $2.5 trillion in profits offshore allowing them to dodge $718 billion in U.S. taxes, according to a new report released Tuesday by Citizens for Tax Justice (CTJ), the Institute on Taxation and Economic Policy (ITEP), and the U.S. Public Interest Research Group (PIRG) Education Fund—all members of the Financial Accountability and Corporate Transparency Coalition (FACT Coalition).
