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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

We need to look into EpiPen

The makers of EpiPen testified in front of Congress -- and it was an epic fail.

They failed to justify their 500% price increase, their 600% increase in executive pay, or their tax-dodging move of corporate offices to the Netherlands.1

Join our campaign to tell the FTC to investigate Mylan for price-gouging and anti-competitive behavior.

Since acquiring the product in 2007, Mylan has raised the price of an EpiPen two-pack from a little over $90 to more than $600.2

Imagine you’re the parent of a child who suffers severe allergic reactions. You depend on the EpiPen to keep your child safe.

ACTION: Anonymous and deadly

There are many reasons why we should ban the practice of anonymous shell companies -- companies formed with no way of knowing who is in charge.

But here's one of the most compelling: They're being used to shield illegal opioid dealers. Most businesses have nothing to hide, but if you do have something to hide, it's easy: You just set up an anonymous shell company -- which in America, requires less personal information than it takes to get a library card.

Since they're anonymous, shell companies are a favorite tool to hide all sorts of unsavory behaviors, from terrorism and drug cartels to

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World’s Largest Banks Support Reforms to End Anonymous Companies

The Clearing House Association—representing the world’s largest commercial banks—sent a letter to Congressional lawmakers supporting strong measures to crack down on the abuse of anonymous companies.  The group, which counts among its owners Bank of America, Citibank, JPMorgan Chase, and Wells Fargo, explicitly endorses the bipartisan Incorporation Transparency and Law Enforcement Assistance Act (H.R.4450, S.2489). (Via the FACT Coalition)

Fair Share has been working to close loopholes that allow anonymous companies.

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Anonymity Overdose - How our opioid crisis and shell companies are linked

Aug. 1, 2016 -- Opioid deaths now exceed those from motor vehicle accidents. It's clear we need to do more. Fair Share Education Fund's latest report, “Anonymity Overdose,” connects opioid trafficking and the subsequent crisis with the activities of anonymous shell companies – companies formed with no way of knowing who is actually in charge. Because they shield the owners from accountability, anonymous shell companies are a common tool for disguising criminal activity and laundering money, and are also at heart of the Panama Papers.

“Anonymity Overdose” found 10 case studies that show the

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