By David Cay Johnston  The practice of favoring big corporations seems likely to take a costly leap forward soon, if Congress passes an $80 billion tax holiday for a handful of U.S. multinational corporations with untaxed profits overseas. Sponsors of legislation to grant the holiday, which is gaining support in Congress, say it would encourage [...]

By SCOTT KLINGER Ships laden with tens of millions of dollars of American treasure pull into beautiful ports in places like the Cayman Islands and the Bahamas every day, offloading profits made on sales to U.S. consumers. These voyages – all technically legal – cost taxpayers $100 billion a year. Now the corporate captains of [...]

Some of America’s most flush corporations are demanding a tax holiday on their profits sitting offshore. But the last holiday produced a nasty hangover, according to a new report by the Institute for Policy Studies. There is a dangerous myth at the center of the jobs debate that rages across our country: Corporate tax cuts [...]

By Richard Rubin and Jesse Drucker As a coalition led by Apple Inc. (AAPL), Google Inc. (GOOG), and Cisco Systems Inc. (CSCO) presses for a tax holiday on more than $1 trillion in offshore profits, it is turning to a well-positioned lobbyist: Jeffrey Forbes, once chief of staff to Max Baucus, chairman of the tax-writing [...]

Dear Editor: A TAX holiday for US multinationals that ship jobs and profits overseas (“Want jobs? Reward hiring,’’ Op-ed, Sept. 14) would be unfair on many levels, including costing the US Treasury billions of dollars. But the biggest problem is that it wouldn’t work. These companies tried this in 2004, and it failed. Then, 843 [...]

(PRESS RELEASE) Washington – On the eve of President Obama’s address to Congress and the nation on his plan to create jobs, a diverse coalition, including several small business organizations, calls for reforms to address tax breaks for large multi-national corporations. In a letter (PDF) to President Obama, the Financial Accountability and Corporate Transparency (FACT) [...]

by Zach Carter Posted on 7/27/11, The Huffington Post WASHINGTON — As political leaders push to reduce the nation’s deficit with dramatic spending cuts, small business owners are asking Washington to lower the deficit by closing offshore tax loopholes, which cost the United States as much as $100 billion a year. “This is just another example of [...]

As Washington considers solutions to our debt crisis, I believe a fundamental principle — before we consider cutting vital programs or raising tax rates—is ensuring everyone pays their fair share. I always find it impossible to explain why a pharmacist in Lockhart, Texas, or a small retail store in San Marcos has to pay more in taxes because some multinational can duck and dodge its obligations by moving money to Bermuda or the Cayman Islands.

Washington, July 25th – Business leaders will join a media briefing hosted by Representative Lloyd Doggett (D. TX) on newly introduced legislation that would recapture $100 billion in revenue annually – and $1 trillion over the next decade – lost to tax dodging by multinational corporations and wealthy individuals through offshore tax havens. At a time when the budget deficit dominates the news, the Stop Tax Haven Abuse Act would ensure that profits and jobs stay in the United States and bring in much needed tax revenues – all without cutting critical funding for education, small business and jobs or entitlements like Social Security and Medicare.