by Alex Blumberg: Money goes in. More money comes out. Corporations don’t lobby Congress for fun. They lobby because it helps their bottom line. Getting a regulation gutted or a tax loophole created means extra cash for the corporation. But getting laws changed can be very expensive. How much money does a corporation get back [...]
Reuters: Corporations gear up for major U.S. tax battle
By David Ingram and Patrick Temple-West WASHINGTON – Huge U.S. corporations are forming lobbying groups to try to influence what could become the hottest congressional debate over comprehensive tax reform in a generation. The newest organization calls itself the Tax Reform Coalition. Backed by companies including American Express Co and Xerox Corp, it filed paperwork [...]
Release: U.S. Cannot Afford Another Tax Break for Corps
FOR IMMEDIATE RELEASE: America Cannot Afford Another Tax Break for Corporations; Groups Representing Millions of Taxpayers from Across the Country Send a Message. Washington – As Congress wrestles with a number of tax-related issues to close out the year, faith-based, small business, union and public interest organizations from California to Maine sent a letter to [...]
IBT: 30 Major U.S. Corporations Paid More to Lobby Congress Than Income Taxes, 2008-2010
By Ashley Portero. By employing a plethora of tax-dodging techniques, 30 multi-million dollar American corporations expended more money lobbying Congress than they paid in federal income taxes between 2008 and 2010, ultimately spending approximately $400,000 every day — including weekends — during that three-year period to lobby lawmakers and influence political elections, according to a [...]
Op-ed: Big business tax holidays are bad for small business, bad for America
By Margot Dorfman, CEO of the U.S. Women’s Chamber of Commerce. If small business owners decided to stop paying our fair share of taxes, we’d be sent to jail. Big business tax dodgers want Congress to reward them with a tax holiday. The U.S. Women’s Chamber of Commerce strongly opposes legislation in Congress that would [...]
Corporate Tax Dodging in the Fifty States: New Report from CTJ and ITEP
(Press Release) — A comprehensive new study that profiles 265 consistently profitable Fortune 500 companies finds that 68 of them paid no state corporate income tax in at least one of the last three years and 20 of them averaged a tax rate of zero or less during the 2008-2010 period. These are among the [...]
New York Times: A Family’s Billions, Artfully Sheltered
By David Kocieniewski New York Times, Sunday Nov 27, 2011 Excerpt: As he stood in the opulent marble foyer of a Fifth Avenue mansion late last month, greeting the coterie of prominent guests arriving at his private art gallery, Ronald S. Lauder was doing more than just being a gracious host. … The charitable deductions generated [...]
Op-Ed: Holly Sklar, Repatriation Con Games
By Holly Sklar Distributed by McClatchy-Tribune News Service Lobbyists are storming Capitol Hill, pushing a tax holiday that would give billions of dollars in tax breaks to less than 1 percent of American businesses – and stick the other 99 percent with the bill. But of course, they can’t say that. So tax holiday advocates [...]
Huff Post: Small Business Owners Ask Super Committee To Tax Big Corporations
By Tyler Kingkade WASHINGTON — Outraged by a new report about America’s largest corporations dodging their taxes, small business owners are orchestrating a new campaign to pressure the congressional super committee into delivering a legislative fix. Twenty-five companies, led by Wells Fargo, AT&T, and Verizon, enjoyed a combined $114.8 billion in tax breaks from 2008 [...]
Reuters: Thirty companies paid no U.S. income tax 2008-2010: report
By Kevin Drawbaugh (Reuters) – Thirty large and profitable U.S. corporations paid no income taxes in 2008 through 2010, said a study on Thursday that arrives as Congress faces rising demands for tax reform but seems unable or unwilling to act. Pepco Holdings Inc, a Washington, D.C.-area power company, had the lowest effective tax rate, [...]
