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Real Tax Reform Should Close Offshoring Loopholes

The U.S. House held a hearing today about tax reform. Fair Share's signed on to a letter, via the FACT Coalition about what we think real reform is. Our priorities for tax reform are to make sure that every business plays by the same rules -- that large multinational compaies shouldn't be able to dodge taxes by hiding money overseas.

“Offshore loopholes and tax haven abuse cost U.S. taxpayers $150 billion per year,” explained Clark Gascoigne, Interim Director of the FACT Coalition, upon submitting the comments to the Committee.

White House Budget has Major Investments Targeting Child Hunger

Though the House has refused to hold hearings on the President's budget, the White House revealed several important measures that, if adopted, would make significant progress in ending child hunger in America. On Jan. 27, the White House held an event on how we can end child hunger in America, highlighting those budget proposals.

In a statement, the White House said:

The Obama Administration is dedicated to ensuring American children and families have the support they need to build a better future, especially when weathering life’s ups and downs, such as loss of a job, illness, or work that

Congress: Let these offshore loopholes expire

Why would Congress want to make loopholes that let companies hide their profits overseas permanent --- loopholes that cost us $10 billion per year?

Help us remove tax loopholes from Congress’ holiday shopping list. Fair Share and our allies have just launched a petition which reads:

We, the undersigned, urge Congress to end the loopholes that reward offshore tax haven abuse and reject any attempt to cement them permanently into our already loophole-ridden tax code. Please vote to end the two offshore loopholes in the tax extender package, the CFC Look-through Rule and the Active Financing Exception, which cost us $10 billion per year.

Congress mulls $400 Billion tax break for corporations

You might have thought it was bad enough that some U.S. multinational corporations are dodging $600 billion in taxes by hiding their profits overseas.

Now some in Congress want to let these corporate tax dodgers off the hook -- permanently -- for $400 billion and make it easier for them to avoid paying what they should moving forward. That's not fair to you, me or other businesses.

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