Senators Demonstrate Urgency of Corporate Tax Avoidance, Drain on Treasury in Budget Debate
March 22nd, 2013
March 22nd, 2013
WASHINGTON – Members of the Financial and Corporate Transparency (FACT) Coalition support three amendments that take aim at abuse of corporate offshore tax havens that have been offered in the Senate Budget Resolution debate.
“These amendments show that there is bipartisan support in Congress, support from long-standing advocates for economic justice and support from critical members of the Senate Finance Committee to correct our terribly flawed system,” said Nicole Tichon, Executive Director of Tax Justice Network USA and Director of the FACT coalition.
“Large multinational corporations have relied on the government and the American people to keep looking the other way. They hire teams of lobbyists and spend millions of dollars in campaign contributions to keep the current system in place. All companies benefit from our roads, clean water, court system, research subsidies and national defense – yet too many fail to contribute their fair share to maintaining any of it.”
FACT Partners supporting the amendments include:
Alliance for a Just Society
American Sustainable Business Council
Business for Shared Prosperity
Citizens for Tax Justice
Global Financial Integrity
Jubilee USA Network
Main Street Alliance
New Rules for Global Finance
Tax Justice Network USA
U.S. Public Interest Group
For more information on the FACT coalition, click here.
Read letters of support for offshore tax reform legislation here.
For a FACT sheet on tax haven abuse by the numbers, click here.
Read Corporate Tax Dodgers – 2008 – 2010 – by Citizens for Tax Justice.
Read Offshore Revisited – A TJN Report on Offshore Wealth by James Henry.