Americans for Tax Fairness and Public Campaign have co-authored a groundbreaking new report on corporate tax lobbying, entitled Corporate Lobbying on Tax Extenders and the “GE Loophole.”
The report focuses on a set of 55 tax breaks — known as “tax extenders” — that are renewed by Congress year after year with little thought or debate. They expired in December of 2013, and Congress is about to consider renewing them again. The tax extenders package includes some huge tax loopholes that benefit big corporations, including the “General Electric Loophole,” known formally as the active financing exception.