The FACT (Financial Accountability and Corporate Transparency) Coalition today submitted comments to the Senate Finance Committee¹s Business Income Tax and International Tax Working Groups calling for a number of substantive changes in the tax code to restore fairness and to close loopholes that allow U.S. multinational corporations to avoid taxes.
The FACT Coalition sent the attached letter to the Senate Finance Committee in July 2014 regarding principles and options for reforming the business tax code.
While citing progress in terms of closing offshore tax loopholes, the Financial Accountability and Corporate Transparency (FACT) coalition believes that the tax reform discussion draft introduced by Senate Finance Committee Chairman Max Baucus falls short when it comes to permanently ending incentives for America’s biggest multinational corporations to shift jobs and profits offshore. The coalition found the proposal to lack some critical details.
