On Anniversary of Tax Law, Celebrations Are in Board Rooms — Not Living Rooms

Supporters of the Tax Cuts and Jobs Act might have hoped for a more celebratory first year anniversary.  The public has not seen the kinds of benefits promised — few have seen anything close to $4000 raises, and real wage growth, accounting for inflation, continues to be sluggish.  And despite surging corporate profits, the stock market took a tumble as other factors weigh heavy on the minds of investors. Even the board room celebrations are muted at best.

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Tax Bill Threatens U.S. Jobs

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.

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

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.

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