AMERICANS FOR TAX FAIRNESS STATEMENT ON U.S. SENATE BUDGET VOTE
WASHINGTON, D.C. – Americans for Tax Fairness, a national coalition representing more than 275 groups pressing for a fairer tax system, released a statement on the U.S. Senate vote to pass U.S. Senator Patty Murray’s budget plan. This follows a national call-in campaign and grassroots events in 18 states this week in support of the Murray budget and requiring corporations and the richest 2% to pay their fair share of taxes.
“This vote is an important step forward as Senator Murray’s budget sensibly proposes that nearly $1 trillion in new revenue be raised through closing loopholes and making sure big corporations and the richest 2 percent start paying their fair share,” said Frank Clemente, campaign manager, Americans for Tax Fairness. “A top priority is to close offshore tax loopholes that send profits and jobs overseas.”
Americans for Tax Fairness sent a letter to Capitol Hill offices on Friday urging Senators to vote in favor of amendments to the Senate budget resolution that would encourage the closure of offshore tax loopholes used by large corporations and use the savings to reduce the deficit. Specifically, ATF urged a YES vote for two amendments: SA430 sponsored by Sens. Levin, McCain and Whitehouse, and SA264 sponsored by Sen. Sanders.
Ending offshore tax abuses – which are estimated to cost more than $100 billion a year – will help to ensure that large corporations cannot use tax havens and other tax dodges to avoid paying their fair share of taxes, meet fiscal challenges, level the playing field between multinational corporations and Main Street businesses, and keep profits and jobs in America rather than promote the shifting of assets and production offshore to avoid paying U.S. taxes.