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Tax

Fair Share Calls for Congress to push back on Trump’s tax myths

Fair Share responded to President Donald Trump's joint address to Congress by highlighting the danger to misrepresenting the challenges facing the U.S. tax code.

If we want to base our debate on tax reform on reality and fairness, we need to correct the record. Last night, we heard the president repeat a common myth about our corporate tax code -- that American companies pay the highest corporate taxes in the world. In fact, the average effective tax rate for U.S. companies is 27.1%, which is below average for other major economies, which average 27.8%.

Our loophole-ridden corporate tax

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Fair Share speaks out against Rep. Delaney's Corporate Giveaways

Rep. John Delaney (D-MD) is putting forward two bills, “Partnership to Build America Act” and the “Infrastructure 2.0 Act,” which are tax giveaways posing as infrastructure spending.

Fair Share is joining with our allies at FACT to oppose these bills, and call for real reform that evens out the tilted playing field of corporate taxes, not makes it worse.

Already, our loophole-ridden corporate tax code is rigged for big companies and their armies of tax lawyers.

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STATEMENT: Congress Scraps Anti-Corruption Measure

On Feb. 3, 2017, the Senate voted 52-48 to scrap a rule designed to prevent oil companies from bribing foreign officials. Referred to as the Cardin-Lugar transparency provision, the rule required U.S.-listed drilling and mining companies including Exxon, Chevron and many others to publish details of their payments to governments across the world in return for rights to natural resources, with the goal of ending corruption. Fair Share's Nathan Proctor had this statement:

"We cannot tolerate a society where the rules only apply to some, but not the most powerful companies.

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6 ways the Senate Democrats' infrastructure plan will work better than President Trump's

The Trump White House previewed part of their infrastructure, and Senate Democrats have countered with a plan on its own.

While we don't know exactly what the administration is planning, during the campaign they offered an overview of a plan that focused on tax breaks for private developers. Over the last few days, a list of possible projects was leaked which appear to be at odds with that earlier overview.

Fair Share supports investing in infrastructure, prioritizing repair, maintenance, long-term sustainability and expanding access to economic opportunities.

Study: Offshore Corporate Cash Stockpile Up to $2.5 Trillion

73% of Fortune 500 Companies used tax havens in 2015, dodging $717.8 billion in federal taxes in the process.

A new report, "Offshore Shell Games," by the U.S. PIRG Education Fund, Citizens for Tax Justice and the Institute on Taxation and Economic Policy details how these companies hoard cash offshore. Collectively, multinationals reported booking $2.5 trillion offshore, with just 30 companies accounting for 66 percent of this total.

The cost to the tax payer is huge, with nearly $718 billion in dodged taxes.

There is a real cost to our communities when we allow a set of companies to play

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