Tax

News Release | U.S. PIRG | Tax

Senate Passes Tax Bill

Michelle Surka, program advocate with U.S. PIRG, on the passage of the Senate tax bill

News Release | U.S. PIRG | Tax

House Passes Tax Bill: Statement from U.S. PIRG

Statement from Michelle Surka, U.S. PIRG Tax and Budget Advocate:

"The U.S. House of Representatives passed the “Tax Cuts and Jobs Act” (H.R. 1) today, which would add $1.5 trillion to the national debt. Supporters pretend that the bill won’t increase the debt by relying on economic growth projections rejected by the vast majority of economists."

News Release | U.S. PIRG | Tax

Latest Offshore Tax Haven Leaks Suggest Need to Reassess Republican Tax Plan

The latest leak of 13.4 million documents from an offshore law firm exposes the tax avoidance gimmicks used by multinational corporations to avoid taxes in the U.S. The “Paradise Papers” were released today by the International Consortium of Investigative Journalists (ICIJ), the group that was also responsible for the “Panama Papers” investigation in 2016. The leaked documents include information on the offshore tax planning schemes used by multinational companies to lower their tax liability.

 

U.S. PIRG tax and budget advocate Michelle Surka made the following statement on the leaks:

News Release | US PIRG | Tax

U.S. PIRG Statement on House Tax Bill

Below is a statement from U.S. PIRG Program Advocate Michelle Surka on the proposed House tax bill's impacts on our debt:

“The Tax Cuts and Jobs Act, introduced this morning in the House, is an exercise in fiscal recklessness, exploding the budget deficit while failing to close the biggest tax loopholes and relying on gimmicks to obscure the impact on the national debt. Rather than make prudent trade-offs to achieve the President's promised tax cuts, this bill twists itself into knots attempting to distract from the bottom line: it will add trillions to our deficit."

News Release | US PIRG Education Fund and Institute on Taxation and Economic Policy | Tax

Study: 73% of Fortune 500 Companies Used Offshore Tax Havens in 2016

A new study reveals the extent to which companies are using tax havens to avoid U.S. taxes and undermines the case for any tax proposal that would allow companies to repatriate their U.S. profits at a special low tax rate.

Report | US PIRG Education Fund & Institute on Taxation and Economic Policy | Tax

Offshore Shell Games 2017

U.S.-based multinational corporations are allowed to play by a different set of rules than small and domestic businesses or individuals when it comes to paying taxes. Corporate lobbyists and their congressional allies have riddled the U.S. tax code with loopholes and exceptions that enable tax attorneys and corporate accountants to book U.S.-earned profits in subsidiaries located in offshore tax haven countries with minimal or no taxes. Often a company’s operational presence in a tax haven may be nothing more than a mailbox.

News Release | US PIRG | Tax

U.S. PIRG Statement on Big Six Tax Reform Framework

Statement from U.S. PIRG Tax and Budget Advocate Michelle Surka on latest framework for Republican tax reform.

News Release | Tax

Momentum to End Anonymous Shell Companies Grows as Senate Introduces ‘Corporate Transparency’ Bill

On Thursday, Senators Marco Rubio (R-FL) and Ron Wyden (D-OR) introduced the Corporate Transparency Act (S.1717), the Senate companion to the bipartisan House bill (H.R.3089) aimed at ending the abuse of anonymous shell companies.

News Release | U.S. PIRG | Tax

U.S. PIRG Applauds Introduction of Bill to End Anonymous Shell Companies

This Wednesday, Representatives Peter King (R-NY) and Carolyn Maloney (D-NY) introduced the Corporate Transparency Act. Senators Chuck Grassley (R-IA) and Sheldon Whitehouse (D-RI) also introduced their companion bill, the True Incorporation Transparency for Law Enforcement (TITLE) Act. U.S. PIRG applauds the introduction of these bills, which would put an end to anonymous shell companies in the U.S.

News Release | U.S. PIRG | Tax

U.S. PIRG COMMENDS THE INTRODUCTION OF BIPARTISAN TRUTH IN SETTLEMENTS ACT

Washington, D.C. – Today, Senators Elizabeth Warren (D-MA) and James Lankford (R-OK) reintroduced the Truth in Settlements Act, a bill that would increase transparency around settlements reached between federal agencies and corporations accused of wrongdoing. 

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