News Releases

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

BP Trial Decision May Hinge on Tax Deductibility

The high-stakes negotiations between BP and the Justice Department may depend on how determined the Department is to protect taxpayers from subsidizing a settlement. In the past, agencies have allowed companies to write off legal settlements over wrongdoing as a tax deduction. Doing so forces taxpayers to ultimately foot the bill for these deductions. Every dollar these companies avoid paying gets made up through cuts to public programs, higher national debt, or increases to other taxes.

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

Closing Tax Loopholes Won't Drive Companies Overseas

With Washington gearing up for additional high-stakes budget battles over the next few months, Congress has continued to ignore a solution worth about $90 billion annually: closing loopholes that allow corporations to avoid taxes by pretending their profits are earned in offshore tax havens. Corporate lobbyists often claim that closing these loopholes would drive companies to flee the U.S. and re-register themselves in low-tax countries. U.S. PIRG’s new analysis explains why this is not the case.

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

President Obama Poses Question: “Why Protect Special Interest Tax Breaks?”

Tonight, President Obama rightly called on Congress to close tax loopholes that allow wealthy special interests to shirk their tax burden at the expense of the public. The first loopholes to go should be those that allow corporations and wealthy individuals to use accounting gimmicks to stash their income in offshore tax havens.

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News Release | U.S. PIRG | Higher Ed

President Obama Calls for End to Unsustainable Student Debt

In the annual State of the Union Address, President Obama called for an end to unsustainable student debt. Higher education is the right investment for our nation to rebuild its economy. In a time when students and families are struggling to make ends meet, congressional leaders need to be doing more, not less, to keep college accessible and affordable.

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

New Legislation to Close Offshore Tax Loopholes Would Save Taxpayers $200 Billion

The CUT Loopholes Act would close a myriad of the most egregious offshore tax loopholes. This legislation is based on the premise that if a U.S. company earns profits here in the U.S., with the benefit of America’s educated workforce, infrastructure, and large consumer base, it should pay taxes in America, like small businesses and everyday taxpayers.