U.S. corporations have $2.4 TRILLION in profits stashed offshore – most of it in tax havens. As long as those profits are offshore, a tax loophole lets corporations dodge paying taxes on them.
It’s time for big corporations to pay the $700 BILLION in taxes they owe America on those profits.
Imagine what we can do with $700 BILLION – create good-paying jobs, improve schools, make college affordable, rebuild crumbling roads and bridges, research new medical cures and more.
Congress is considering how much of a tax cut to give these offshore tax dodgers. We say they should pay the $700 billion they owe.
We need an economy that works for all of us.
If we close tax loopholes for corporations that ship jobs and hide profits offshore, we can raise billions of dollars to invest in America.
- ATF Urges SEC Disclosure Updates to Include Annual Country-by-County Requirement, 11/3/16
- ATF Letter to the SEC regarding Offshore Subsidiary Disclosure, 11/2/16
- Top 50 Corporations With Offshore Profits in 2015, 10/4/2016
- Corporate Tax Chartbook: How Corporations Rig the Rules to Dodge the Taxes They Owe, 9/19/16
- Comments supporting SEC Corporate Disclosure Rules on Tax Haven Subsidiaries
- Does the U.S. have the highest corporate tax rate? CNN Money Segment, 7/6/16
- International Corporate Tax Reform: Trillions of Dollars for Investments at Stake
- ATF Pay What You Owe Flyer, 4/13/16
- Senator Elizabeth Warren Remarks at the National Press Club on Schumer Portman, 11/18/15
- 24 International Tax Experts Letter to Congress, 9/25/15
- Tax Notes: Scholars Criticize International Tax Reform Proposals, 10/5/2015
- Tax Experts Summary of Research on U.S. Effective Corporate Tax Rates
- Credit Suisse Report, Parking A-Lot Overseas, 3/17/15
- ATF Country By Country Reporting Testimony to IRS, 5/13/16