Financial Transparency Coalition

In his State of the Union address less than a month ago President Obama brought up a basic minimum corporate tax. He noted that “companies get tax breaks for moving jobs and profits overseas” and that American companies should not be allowed to use these mechanisms to avoid paying their fair share. But in order to change this status quo, legislators need to close the loopholes that allow companies to drive down their effective tax rates far below the official rate. This needs to happen. There are far too many corporate tax loopholes—which are deductions, credits, and other tax expenditures...