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News Release | US PIRG Education Fund | Tax

Government Agencies Allow Corporations to Write Off Billions in Federal Settlement Payments

A new study by United States Public Interest Research Group Education Fund (U.S. PIRG) analyzes which federal agencies allow companies to write off out-of-court settlements as tax deductions and which agencies are transparent about these deals. The study found that five of the largest government agencies that sign settlement agreements with corporations rarely specify the tax status of the resulting payments. Billions of dollars are allowed to be written off as cost of doing business tax deductions. Additionally, the report found that major government agencies do not consistently disclose the details of corporate settlement agreements.

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Blog Post | Democracy

Three ways you can join the fight against big-money politics

We're still a year away from the 2016 presidential election, but we've already seen massive fundraising numbers coming from Super PACs and outside groups. Here are a few ways you can fight big money politics right now.

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Report | US PIRG Education Fund | Tax

Settling for a Lack of Accountability?

When large companies harm the public through fraud, financial scams, chemical spills, dangerous products or other misdeeds, they almost never just pay a fine or penalty, as ordinary people would. Instead, these companies negotiate out-of-court settlements that resolve the charges in return for stipulated payments or promised remedies. These agreements, made on behalf of the American people, are not subject to any transparency standards and companies often write them off as tax deductions claimed as necessary and ordinary costs of doing business.

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News Release | U.S. PIRG | Democracy

D.C. Council Introduces Fair Elections Legislation

At a press conference this Tuesday, D.C. Councilmember David Grosso introduced fair elections legislation to empower small donors and reduce the influence of special interest groups in D.C. elections. Grosso was joined by the D.C. Fair Elections coalition, including DC for Democracy, D.C. Working Families, U.S. PIRG, Public Citizen, Every Voice, Communication Workers of America, and the D.C. chapter of the Sierra Club. The bill’s introduction comes after major victories in Maine and Seattle, where residents voted to create and strengthen fair election initiatives this November.

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Blog Post | Public Health

Not-so-secret-Santas in Congress Using Spending Bill To Roll Back Health, Safety, Wallet Protections | Ed Mierzwinski

With spending authorization for the federal government set to end on December 11, Congressional leaders are working with powerful special interests on their not-so-Secret-Santa lists to use spending bills as vehicles to gut health, safety and wallet protections popular with the general public but not with Wall Street or the U.S. Chamber of Commerce. They know they cannot win a fair fight. So they’re loading up the must-pass funding bill with so-called “riders,” which are unrelated policies that couldn’t get passed on their own. Everything we fought for in Wall Street reform, including the CFPB, is on the chopping block. So are many other PIRG health, safety, wallet and democracy priorities.

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News Release | U.S. PIRG | Tax

160,000 Tell D.O.J. to Prevent JPMorgan Tax Deduction for Mortgage Wrongs

U.S. PIRG delivered 160,000 petitions to the Department of Justice demanding that they do not allow JPMorgan to write off their expected $9 billion settlement for mortgage lending abuses on their taxes. If the bank is allowed to deduct the settlement, over $3 billion in costs could shift to taxpayers.

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Media Hit | Tax

JPMorgan pact draws fire

The $13 billion settlement with JPMorgan Chase is drawing some bipartisan fire in Congress where lawmakers say it could leave taxpayers on the hook.

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Media Hit | Tax

Tax Breaks for Corporate Wrongdoing, Part 1: The FTC

The Federal Trade Commission should be set up to ensure that corporate wrongdoers don't get a tax break for their misdeeds.

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News Release | U.S. PIRG | Tax

JPMorgan’s Tax-Deductible Settlement is Just the Tip of the Iceberg

The corporate practice of taking a tax deduction for settlement payments made to federal agencies is ubiquitous

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News Release | U.S. PIRG | Health Care

Tips for Bypassing Healthcare.gov Glitches and Getting Enrolled

While experts work to fix the problems with the federal health insurance marketplace website, U.S. PIRG urges consumers to take advantage of other ways to enroll.

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Blog Post | Consumer Protection

CFPB seeks your views on prepaid cards, including campus cards featured in our latest report | Ed Mierzwinski

The CFPB wants your views on general purpose reloadable prepaid cards. Some of the campus cards featured in U.S. PIRG Education Fund's new report, the Campus Debit Card Trap, are prepaid cards, others are debit cards, and there is a difference.

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Blog Post | Consumer Protection

House banking committee takes action to aid predatory rent-to-own firms today | Ed Mierzwinski

(Updated 1 June) This morning the House Financial Services Committee will likely approve HR 1588, legislation designed solely to allow the rent-to-own industry ("for only 104 weekly payments of $10.99, you can own this TV/computer/couch" for 3 or 4 times its total retail price) to preempt or override the laws of the several states that protect its consumers from predatory financial practices. Is that the role of the Congress?

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Blog Post | Tax, Transportation

Senate Transportation Bill Stretches Dollars by Ending Hidden Subsidies and Cracking Down on Tax Dodgers

The Senate transportation bill doesn't transform the way America invests in transportation, but it finds some good ways to save money and increase performance within an austerity budget

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Blog Post | Consumer Protection

NYTimes on growing tax fraud identity theft epidemic | Ed Mierzwinski

The New York Times has a story on the web "With Personal Data in Hand, Thieves File Early and Often" by reporter Lizette Alverez for Sunday's paper. It describes an "epidemic" of tax identity theft. Thieves file fraudulent tax returns and receive a legitimate taxpayer's refund before he or she does, often on a hard-to-trace prepaid card.  Losses are in the billions, losses are increasing and legitimate taxpayers are waiting a long time to get their refund. It's a very good story that explains how the crime works, how it disproportionately harms retirees and how, -- despite massive efforts by agencies from the IRS to the post office -- it's a growing mess. Unfortunately, the reform promoted by some policymakers quoted in the story -- increasing criminal penalties -- has never worked to stop identity theft. Bad guys don't have to carry guns and they rarely get caught, so the crime is booming. Sure, it doesn't hurt to increase penalties, but it is not enough. We need to protect personal data better. Relying on increasing penalties is a feel-good solution that won't work on its own. But the credit bureaus and other powerful special interests have resisted legislation to protect personal information better and spent heavily to convince policymakers that "blaming bad guys" is more important than fixing their own sloppy practices. The credit bureaus, of course, are wrong.

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Blog Post | Public Health

Lets Make Smart Regulations About Protecting Consumers, Not Saving Big Business Money | Nasima Hossain

In Cost/Benefit Chief Cass Sunstein’s recent White House Blog Post, Making Regulation Smarter to Save Lives and Money, Sunstein talks about streamlining regulations as highlighted in the President’s recent Executive Order. What the President and Mr. Sunstein should be talking about is a fast and smart regulatory review process.

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