The Justice Department requests stay of final injunction barring CTA enforcement, No Tax Breaks For Outsourcing Act reintroduced, and new executive order pauses enforcement of cornerstone anti-bribery law.
Many companies, including as many as half of all large U.S. multinationals, will soon begin publicly reporting tax and other financial information for a range of high-risk jurisdictions typically associated with profit shifting and related tax avoidance schemes.
FACT urges appropriators to oppose a harmful House measure that would deny funding to the nation’s accounting standards setter unless it withdraws a long-awaited corporate income tax disclosure rule.
By addressing unfair tax breaks given to U.S.-based multinational corporations, Congress can help level the playing field for wholly domestic businesses, end incentives for offshoring, and raise more than one trillion dollars in new revenues.
Congress must use the upcoming 2025 tax fight as an opportunity to eliminate incentives for U.S. multinationals to ship jobs and profits offshore, raise much-needed revenues to pay for policy priorities and reduce deficits, and level the playing field for domestic businesses and workers.
In his latest blog, FACT executive director Ian Gary argues that tax reform must be at the center of the “financing for development” agenda, and that multinational tax transparency has a key role to play in helping Global South countries generate revenues to fund their development needs.
