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News Release | US PIRG | Budget

U.S.PIRG advises for stronger standards to track state and local economic subsidies

The Government Accounting Standards Board (GASB) called for public comment on proposed rules for reporting on tax abatements that could require states and localities to achieve new levels of checkbook level transparency around economic development programs. Across the U.S. these programs represent tens of billions of dollars in subsidies, often granted with little transparency or accountability for results. In our comment letter to GASB, US PIRG made a few suggestions for amendments that would further strengthen the proposed GASB standards.

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Blog Post | Public Health

House's New Target: All Health, Safety, Financial Protections | Ed Mierzwinski

Following their embarrassment a few weeks ago when a vote on Wall Street rollbacks using "name that post office" procedures failed, the good news is that House leaders are taking a hiatus from attacking financial reform directly this week. The bad news: instead, the House plans to move two proposals placing roadblocks in front of any agency -- from FDA and EPA to the CFPB -- seeking to establish public health, safety or financial safeguards. We're on the case.

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Media Hit | Tax

How Much of Its Record Settlement Will S&P Write Off at Tax Time?

First comes the settlement. Next comes the tax write-off?

Standard & Poor’s Ratings Services on Tuesday announced a record $1.5 billion payout to resolve crisis-era lawsuits with the Justice Department, states and a pension fund over inflated residential mortgage deals. Collectively, the settlement total is 10 times larger than any other previously involving a credit-rating firm.

But how much of the unprecedented round of settlements could end up being written off?

Michelle Surka, a program associate with the nonpartisan consumer advocacy group U.S. Public Interest Research Group, said she thinks she has an answer based on an early analysis: about $290 million.

That’s about a $50 million break on state taxes but also the potential to write down $240 million of federal taxes owed in the more than dozen states involved in the settlement, Ms. Surka said.

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Media Hit | Tax

When Company Is Fined, Taxpayers Often Share Bill

U.S. PIRG analysis and quotes featured in the New York Times Business Day section.

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News Release | U.S. PIRG Education Fund | Transportation

New Report Ranks 70 Major American Cities’ Tech Transportation Options

A new report from the U.S. PIRG Education Fund and Frontier Group shows how well American cities are using technology-enabled services and tools for their transportation needs. It ranks major American cities on the number of different types of new transportation technology options in the city.

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News Release | U.S. PIRG Education Fund, Demos | Democracy

"Billion-Dollar Democracy" The Unprecedented Impact of Big Money in 2012 Elections

It took just 32 billionaires and corporations giving Super PACs an average of $9.9 million apiece to match every single dollar given by small donors to Romney and Obama in the 2012 election cycle, according to “Billion-Dollar Democracy,” a new report by U.S. PIRG and Demos. Those small donations amounted to over $313 million from more than 3.7 million individuals.

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News Release | US PIRG Education Fund | Democracy

“Elections Confidential” Report Reveals Role of Dark Money Groups and Shell Corporations in 2012

Mystery donors poured hundreds of millions of dollars into the 2012 elections via dark money non-profit groups and shell corporations, despite widespread public support for disclosure and decades of legal precedent supporting the public’s right to know the sources of election-related spending. A new report from the U.S. PIRG Education Fund and the Center for Media and Democracy found that contributions from phony for-profit corporations accounted for nearly 17 percent of all business donations to Super PACs.

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Media Hit | Budget, Tax

New York Times: Paying the Price, But Often Deducting It

[T]here’s more than meets the eye to the big legal settlements you’ve been reading about involving some of the nation’s biggest banks. Actually, there’s less than meets the eye. The dollar signs are big, but they aren’t as big as they look, at least for the banks. That’s because some or all of these payments will probably be tax-deductible. The banks can claim them as business expenses. Taxpayers, therefore, will likely lighten the banks’ loads.

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News Release | U.S. PIRG | Public Health

FDA Protects Public by Releasing Two Long-Delayed Food Safety Rules; Five Critical Rules Still Yet To Be Released

After a one-year delay, the FDA finally released two vital food safety rules that will help protect American consumers from unsafe and contaminated food. The proposed rules will improve the safety of produce and establish better preventative controls and practices in food manufacturing.


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News Release | U.S. PIRG | Budget, Tax

Do New Mortgage Settlements Contain a Hidden $7 Billion Tax Subsidy for Banks?

Unless federal agencies prevent it, the banks in yesterday's settlement announcements will likely write off the penalties on their taxes, effectively forcing ordinary taxpayer to provide $7 billion in tax subsidies for their wrongdoing.

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Priority Action

We're teaming up with big restaurant chains to stop the overuse of antibiotics on factory farms. Call on KFC to stop selling meat raised on routine antibiotics.

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