March 13, 2019
End Incentives That Disadvantage American Businesses
Statement of Susan Harley, Deputy Director, Public Citizen’s Congress Watch Division
Note: Today, U.S. Sen. Sheldon Whitehouse (D-R.I.) and U.S. Rep. Lloyd Doggett (D-Texas) introduced the No Tax Breaks for Outsourcing Act of 2019 which would close the loophole in the 2017 Republican tax giveaway package that gives a 50 percent discount to multinational corporations’ tax bills.
Corporations have been giving their workers the short end of the stick for years, so avoiding taxes is simply par for the course for greedy multinational CEOs. Instead of helping Main Street businesses, the 2017 tax giveaway bill rolled out the red carpet for accounting trickery that magically makes profits disappear out of U.S. ledgers and move onto the ones that will give multinationals a big half-off coupon.
In the meantime, the American taxpayer is left holding the bill for the potholes caused by these same corporations’ shipping trucks, neglected supply chains and negative impacts related to climate change. Cheers to those lawmakers who have stepped up to end this injustice, and shame on those who care more about their corporate donors than Main Street mom n’pops.