U.S. corporations have $2.1 TRILLION in profits stashed offshore – much 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 $600 BILLION in taxes they owe America.
Imagine what we can do with $600 BILLION – create good-paying jobs, improve schools, make college affordable, rebuild crumbling roads and bridges, research new medical cures and more.
Tax-dodgers should not get a sweetheart tax deal.
- Congress is considering whether to make tax-dodging corporations pay taxes on $2.1 TRILLION in offshore profits to fund highway construction. But some members of Congress want to give them a sweetheart tax deal to do it.
- Rather than pay the normal corporate tax rate of 35%, they might pay just 14% – or LESS! That’s a lower tax rate than many middle-class families pay.
- Apple would get a tax break of $52 BILLION. Microsoft would save $30 BILLION and Citigroup $12 BILLION. [Source: Citizens for Tax Justice]
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.