Close Corporate Tax Loopholes

Across the country, some of the nation’s most prosperous people and companies — including GE, Google and Goldman Sachs — have avoided paying the taxes they owe, costing taxpayers $150 billion just last year.

TAX HAVENS COST US $150 BILLION A YEAR

No company should be able to game the tax system to avoid paying what it legitimately owes. And, yet, with atleast 83 of the nation's top 100 publicly traded companies establishing shell companies in offshore havens to avoid taxes, this is becoming more the rule than the exception. GE, Google, Goldman Sachs and dozens of others have created hundreds of phantom entities with nothing more than a clever tax attorney and P.O. box. 

Most recent academic studies estimate that about $150 billion in tax revenue is lost every year to offshore tax havens. The result? Cuts to public services, additional taxes today or additional debt to be paid by the next generation. 

It’s not illegal, but it’s not right.

Meanwhile . . . the average taxpayer paid $1,026 more to cover the billions that GE and others skipped out on last year, companies that don’t use these schemes keep struggling to compete with those that do, and state legislatures and Congress are considering deep cuts for essential public programs — from education, to health care, to clean air and drinking water.

We're being asked to tighten our belts and make sacrifices while giving the tax haven crew a free ride. U.S. PIRG is pushing for commonsense changes that simply say that if corporations are based here and generate profits here, then they should, like all of us who earn income here, pay the taxes they owe.

Issue updates

News Release | U.S. PIRG | Tax

This Time, BP Settlement Protects Taxpayers

The Department of Justice saved taxpayers over $1 billion by negotiating to make sure BP would not take today's $4.5 billion legal settlement as a tax deduction.

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News Release | U.S. PIRG | Budget

Small Farmers and Citizens Speak Out Against Agricultural Subsidies in Farm Bill

Washington DC, Sep. 10 –Small farmers and ordinary citizens across the country are taking a stand against wasteful agricultural subsidies in the federal Farm Bill. With only a few weeks left before they adjourn for the election, reauthorizing or extending the Farm Bill is one of Congress’s top priorities.

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

Aggressive New Stance by Justice Department on BP Spill Offers Little-Known Benefit for Taxpayers

Statement of Ryan Pierannunzi, U.S. Public Interest Research Group Tax and Budget Associate, on the Department of Justice's August 31 court filing that charges BP with gross negligence for its role in the Deepwater Horizon disaster, which may impact the tax-deductibility of a future settlement and protect the public from having to pick up the tab.

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News Release | U.S. PIRG | Tax

Senate Finance Votes to Extend Offshore Tax Loopholes

Americans will pick up the $13 billion tab for multinational tax avoidance if two "tax extenders" approved by the Senate Finance Committee become law.

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Blog Post | Tax, Transportation

Senate Transportation Bill Stretches Dollars by Ending Hidden Subsidies and Cracking Down on Tax Dodgers | Phineas Baxandall

The Senate transportation bill doesn't transform the way America invests in transportation, but it finds some good ways to save money and increase performance within an austerity budget

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

Obama: Companies Shouldn’t Dodge Taxes

Statement of US PIRG Tax and Budget Associate Dan Smith on President Obama’s State of the Union Address.

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Media Hit | Budget

The Economist: You’re on film: The trouble with outsourcing traffic-law enforcement

Phineas Baxandall at the US Public Interest Research Group, a non-partisan advocacy, says the trend toward privatising the enforcement of traffic laws poses inherent conflicts of interest. Municipalities typically sign up because they are strapped for cash. When the contract involves revenue-sharing between the vendor and the municipality, there is an incentive to issue more tickets than necessary. But even flat-fee contracts can cause problems, if the system is implicitly tuned to recoup that fee by, in effect, setting a quota of tickets to be issued.

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

Tax Havens Used by Romney and Large Corporations Cost Taxpayers Billions

With the heightened attention paid to Mitt Romney’s use of offshore tax havens, it is important to remember that tax havens are more than just an electoral issue. Tax havens are a serious policy matter that profoundly affects ordinary Americans, our economy, our national debt and our long-term competitiveness.

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

Thirty Fortune 500 Companies Paid More to Lobby Congress than they Did in Federal Income Taxes

With the second anniversary approaching of the Supreme Court’s decision in the Citizens United case – which opened the floodgates to corporate spending on elections – U.S. Public Interest Research Group (U.S. PIRG) and Citizens for Tax Justice reveal 30 corporations that spent more to lobby Congress than they did in taxes.

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Media Hit | Tax

CBS News: Big Spenders on Capitol Hill Got Big Tax Breaks

The new report is from the left-leaning U.S. Public Interest Research Group and Citizens for Tax Justice. They highlight companies they call "especially aggressive at dodging taxes and lobbying Congress: the Dirty Thirty."

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PRIORITY ACTION

Some of the nation’s most prosperous people and companies — including GE, Google and Goldman Sachs — avoid paying the taxes they owe, costing taxpayers $150 billion just last year.

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