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"Paradise for Tax Dodgers" -- Our Response To Tax Bills Passage

"This bill does nothing to help build an economy that works for people -- and instead rewards tax dodging companies. Though the proponents say that it would improve take home pay and boost economic growth, economists say that simply isn’t true."

Paradise Papers Expose Credibility Problem With Tax Reform

Our statement on the release of the Paradise Papers, a leak of documents that shine a light on tax haven abuse and tax dodging:

Paradise Papers reveal many of the complicated schemes multinationals use to game the system when it comes to tax. The Republicans claim their bill fixes these problems, but now we can see that many of the most influential policy voices on this bill are experts at exploiting offshore shell games. We must allow more time to analyze the impact of provisions around offshore tax dodging to be reviewed by the public and public interest advocates. We cannot accept these new provisions, written behind closed doors by the very people we are trying to hold accountable in the tax code, without that analysis.

Expensive tax cut bill fails fairness test

On 11/2, a draft version from Congress' Ways and Means Committee to make significant changes to the U.S. tax system. Here's our take: 

Our tax code is clearly in need of a serious overhaul, but, to me, this falls short of a serious effort. 

There is broad agreement that we need to level the playing field on corporate taxes. Currently corporate tax loopholes allow companies to stash money offshore, meaning that bigger businesses have distinct advantages over their smaller wholly domestic competitors. 

But this legislation as drafted would not end this practice and continue to reward

Our Response to Senate Vote Blocking Rule That Would Restore Consumer’s Right To Take Financial Bad Actors To Court.

Now more than ever, we need to stand up for the Consumer Bureau and keeping Wall Street in check.

On Tuesday, October 24, Vice President Pence broke a 50-50 deadlock in the Senate, overturning the Consumer Financial Protection Bureau’s rule banning mandatory arbitration clauses. This rule would have prevented financial firms from using small-print in contracts that prevent class action lawsuits, which make it nearly impossible for consumers without the financial resources to take on big banks.

This vote leaves all of us open to being tricked into unfair forced arbitration practices which are designed to favor Wall Street over working Americans.

Tax Blueprint’s Big Winners Are Corporate Tax Dodgers

Sept. 27 -- As the Trump administration and Congressional leaders unveil their plans for reworking taxes, the proposal contains recommendations that would allow multinational corporations to avoid taxes on the profits they book offshore.

Already, our loophole-ridden corporate tax code is rigged for and by big companies and their armies of tax lawyers.

There is an estimated $2.5 trillion in profits from U.S. companies stashed offshore, which, thanks to loopholes in the law, allows companies to indefinitely defer the taxes they own on that profit. Most of that money, 66 percent, is held by just 30 companies.

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