Tax

Legalized Cheating

By Gary Kalman

Massive corporations are cheating us out of trillions of dollars that our infrastructure desperately needs. And none of it is illegal.

Crumbling bridges, abandoned schools, stalled plans for green energy—name a problem with American infrastructure, and someone will tell you the issue is a simple lack of funds.

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Debunking the 35 Percent Corporate Tax Myth

By Richard Phillips

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.

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New Bill Takes Aim at Offshore Tax Avoidance

FACT Coalition Statement on  Corporate Tax Dodging Prevention Act

WASHINGTON, D.C. – Legislation introduced by Sen. Bernie Sanders (I-VT), Sen. Brian Schatz (D-HI), and Rep. Jan Schakowsky (D-IL) Thursday takes aim at offshore tax avoidance by closing a number of loopholes in the tax code.

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Report Shows House Tax Plan Fails to Curb Tax Avoidance

Statement by the FACT Coalition on ITEP Study

WASHINGTON, D.C. – A new report published Wednesday by the Institute on Taxation and Economic Policy (ITEP) explains—among other things—how the House tax plan fails to curtail tax avoidance, contrary to the conventional wisdom in Washington.

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Letter to House Lawmakers Opposing H.J.Res.54

The FACT Coalition sent a letter to House lawmakers Friday urging them to oppose H.J.Res.54, a controversial measure which would repeal an important safeguard against offshore tax haven abuse—specifically, the practice of earnings stripping.

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Lawmakers Should Oppose Delaney’s Two Tax Giveaways

By Clark Gascoigne

“Partnership to Build America Act” and the “Infrastructure 2.0 Act” Would Exacerbate Offshore Tax Haven Abuse

The FACT Coalition sent two letters up to House lawmakers this week opposing a couple of egregious tax giveaways that are expected to be re-introduced by Rep. John Delaney (D-MD) in the near future.

Titled the “Partnership to Build America Act” and the “Infrastructure 2.0 Act”, both measures seek to offer multinational tax avoiders a reward under the premise that the measures might raise some revenue for infrastructure funding.  The question is: at what cost?

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Mnuchin’s Offshore Companies Underscore Need to Tackle Tax Havens in Tax Reform

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.

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