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Mass. State Legislature Holds Hearing on Bill to Close Tax Loophole

On Tuesday, June 9 a public hearing was held before the Joint Committee on Revenue regarding a measure that would close the “water’s edge” loophole. This tax loophole allows companies to avoid taxes they would otherwise owe by shifting profits to offshore tax havens around the globe.

Nathan Proctor, State Director of Massachusetts Fair Share, testified before the Committee:

“Over the last year, Massachusetts Fair Share has collected more than 7,000 comments and signatures from Massachusetts residents in support of closing a loophole which allows companies to avoid taxes by stashing cash

Fair Share Applauds Obama Action on Inversions; Calls on Congress to Finish the Job

Washington, D.C.  – Fair Share today applauded the Obama Administration’s plans to discourage corporations abroad to avoid U.S. taxes, but noted that only comprehensive reform in Congress will stop the damaging of America’s corporate tax base and the loss of billions of dollars that could help rebuild the middle class and put the nation’s economy back on track.

In recent weeks, Fair Share has collected more than 8,000 petition signatures calling on Congress to act and taking corporations such as Burger King to task for not meeting their very American obligation to pay their fair share of

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