Statement on Camp Tax Plan: A Disappointment to Those Looking for Real Reform

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FOR IMMEDIATE RELEASE
February 26, 2014

njacobs@nullthefactcoalition.org
Contact: Nick Jacobs
+1 (202) 841-1466

Following the release today by House Ways & Means Committee Chairman Representative Dave Camp (R-MI) of a plan to overhaul the U.S. tax code, the FACT (Financial Accountability and Corporate Transparency) Coalition released the following statement from its director, Nicole Tichon:

Mr. Camp still erroneously clings to the notion that U.S. multinational corporations are taxed higher than anywhere else in the world. As the report released today by the Citizens for Tax Justice makes abundantly clear, this is simply not the case. In fact, many have paid no tax at all or have paid higher taxes to foreign governments than here at home. This robs the treasury of much-needed resources and supports a system the pushes jobs offshore.This proposal starts with a false premise, and largely lets multinational corporations off the hook.”

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Founded in 2011, the Financial Accountability and Corporate Transparency (FACT) Coalition unites civil society representatives from small business, labor, government watchdog, faith-based, human rights, anti-corruption, public-interest, and international development organizations. We seek an honest and fair corporate tax code, greater transparency in corporate ownership and operations, and commonsense policies to combat the facilitation of money laundering and other criminal activity by the legitimate financial system.