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News Release | PennPIRG | Tax

Offshore Tax Havens Cost PA Taxpayers $452 per Year

April 12, PHILADELPHIA – With tax day approaching, a new study released by PennPIRG found that the average Pennsylvania taxpayer in 2011 would have to shoulder an extra $452 tax burden to make up for revenue lost from corporations and wealthy individuals shifting income to offshore tax havens.

News Release | PennPIRG Education Fund | Tax

Tax Havens Used by Romney Cost Taxpayers Billions

With the heightened attention paid to Mitt Romney’s use of offshore tax havens, it is important to remember that tax havens are more than just an electoral issue. Tax havens are a serious policy matter that profoundly affects ordinary Americans, our economy, our national debt and our long-term competitiveness.

News Release | PennPIRG Education Fund | Democracy, Tax

Thirty Fortune 500 Companies Paid More to Lobby Congress Than They Did in Federal Income Taxes, PennPIRG Study Shows

PHILADELPHIA, Jan. 18 – With the second anniversary approaching of the Supreme Court’s decision in the Citizens United case, which opened the floodgates to corporate spending on elections, PennPIRG and Citizens for Tax Justice reveal 30 corporations that spent more to lobby Congress than they did in taxes.

News Release | PennPIRG Education Fund and ITEP | Budget, Tax

Report Shows Pennsylvania Corporations Paying Few State Taxes

A comprehensive new study from the Institute on Taxation and Economic Policy finds that 68 of 265 consistently profitable Fortune 500 corporations paid no state corporate income tax in at least one of the last three years. 20 of these corporations averaged a tax rate of zero or less during the 2008-2010 period.

News Release | PennPIRG and National Taxpayers Union | Budget

Unlikely Allies Uncover $1 Trillion in Savings for Super Committee

PHILADELPHIA, PA - As the Congressional “Super Committee” begins its search for $1.5 trillion in deficit reduction, a new study released today by the Pennsylvania Public Interest Research Group (PennPIRG) and the National Taxpayers Union (NTU) provides the panel with a great place to start: more than $1 trillion of spending cuts with appeal from across the political spectrum.

 

News Release | Budget, Tax

Offshore Tax Havens Cost Pennsylvania Taxpayers $464 a Year

PHILADELPHIA, April 18– Major corporations and some individuals avoid a total of as much as $100 billion a year in federal taxes by “off-shoring” the profits they make here in the U.S. or by setting up sham headquarters in tax haven countries. As a result, Pennsylvania taxpayers are left footing the bill.

News Release | Tax

House Finance Committee Holds Hearing on "Combined Reporting" to Level the Playing Field on Taxes

PITTSBURGH—Today, the House Finance Committee held a hearing on “combined reporting”, an accounting reform that would prevent multi-state companies from shifting profits to out-of-state subsidiaries as a way to avoid Pennsylvania taxes. Neighboring New York and West Virginia instituted this tax modernization last month.

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The CUT Loopholes Act would put an end to the price and profit shifting that allows publicly traded companies to engage in pervasive tax avoidance.

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