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News Release | U.S. PIRG | Budget, Tax

New Bill Will Stop Companies from Stashing Profits in Tax Havens, Raise $600 Billion in Tax Revenue

Ordinary taxpayers foot the bill for this corporate tax dodging in the form of cuts to public programs, more debt, or higher taxes. This legislation tackles the heart of the problem by ending incentives to shift profits offshore.

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News Release | U.S. PIRG | Budget, Tax

New Maine Spending Transparency Website Announced in Governor’s Speech

The state of Maine launches a new spending transparency website with many strong features and some significant shortcomings.

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Blog Post | Consumer Protection

Senators Hold CFPB Director Hostage, Roil Markets | Ed Mierzwinski

On Friday, most Senate Republicans again sent the President a letter saying they would not confirm Richard Cordray to a full term as CFPB director unless the agency's powers and independence were first gutted. Their intransigence contributes to market uncertainty that ignores at least three things: The CFPB is here to stay; the public wants the CFPB; and, banks lose to payday lenders if the director is not confirmed.

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Report | U.S. PIRG Education Fund | Budget, Tax

The Hidden Cost of Offshore Tax Havens

In 2011, states lost approximately $39.8 billion in tax revenues from corporations and wealthy individuals who sheltered money in foreign tax havens. Multinational corporations account for more than $26 billion of the lost tax revenue, and wealthy individuals account for the rest.

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News Release | U.S. PIRG Education Fund | Budget, Tax

New Study: Offshore Tax Dodging Blows $40 Billion Hole in State Budgets

With states across the country facing dire fiscal crunches and lawmakers in Washington gearing up for more budget showdowns, U.S. PIRG Education Fund released a new study revealing that state budgets were hit collectively with $40 billion in lost revenue from offshore tax dodging last year.

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News Release | U.S. PIRG | Tax

White House Plan to Close Special Interest Tax Loopholes Is the Right Approach to Reform, But Details Matter

The President has put forward the beginnings of a tax reform plan that takes the right approach, but is still missing critical details. America needs a level playing field where businesses succeed by being more productive and innovative, not by hiding profits in the Cayman Islands or other tax havens. By ending special-interest tax preferences, the administration plan could help the economy and reduce debt, while addressing public outrage about large companies dodging their taxes.

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News Release | U.S. PIRG | Budget

White House Plan to Close Special Interest Tax Loopholes Is the Right Approach to Reform, But Details Matter

Statement by Phineas Baxandall, Senior Tax and Budget Analyst for the U.S. Public Interest Research Group, in response to the White House announcement today proposing to eliminate tax loopholes and preferences.

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News Release | U.S. PIRG | Financial Reform

U.S. PIRG Applauds CFPB Proposal To Regulate Biggest Credit Bureaus

“Last summer over 10,000 PIRG members submitted comments to the Consumer Financial Protection Bureau (CFPB) urging strict regulation of credit bureaus and credit scoring firms. We applaud the CFPB for its proposal today to subject the nation’s largest credit bureaus and credit scoring firms to full scrutiny as “larger participants” (CFPB pdf) in the financial marketplace."

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News Release | U.S. PIRG | Higher Ed

College Affordability a Priority in Obama’s Budget

With the student loan interest rate about to double this July, President Obama proposed to halt the rate hike in his FY 2012 budget released today. “In this economy, the last thing we should do is double the interest rates on student loans.  Graduates already face high debt levels made worse by an uncertain job market,” said Rich Williams, Higher Education Advocate for US PIRG.  “Students and families need what the President offers in this budget, which is to keep interest rates low and provide more Pell Grant funding for students.”

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News Release | U.S. PIRG | Financial Reform

Robo-Signing Settlement With Big Banks Is Important Step

Today's settlement by the U.S. and 49 state attorneys general with the 5 biggest mortgage servicers - the big banks Citibank, Bank of America, Wells Fargo and JP Morgan Chase, along with Ally Financial - is an important and enforceable first step toward holding the big banks accountable for not only wrecking the economy but using a variety of unfair foreclosure practices to ruin the lives of millions of Americans and, in many cases, taking their homes illegally.

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Priority Action

The overuse of antibiotics on factory farms is threatening the effectiveness of lifesaving antibiotics. Call on the Obama administration to put an end to the worst practices.

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