Close Corporate Tax Loopholes

Across the country, some of the nation’s most prosperous people and companies — including GE, Google and Goldman Sachs — have avoided paying the taxes they owe, costing taxpayers $150 billion just last year.


No company should be able to game the tax system to avoid paying what it legitimately owes. And, yet, with atleast 83 of the nation's top 100 publicly traded companies establishing shell companies in offshore havens to avoid taxes, this is becoming more the rule than the exception. GE, Google, Goldman Sachs and dozens of others have created hundreds of phantom entities with nothing more than a clever tax attorney and P.O. box. 

Most recent academic studies estimate that about $150 billion in tax revenue is lost every year to offshore tax havens. The result? Cuts to public services, additional taxes today or additional debt to be paid by the next generation. 

It’s not illegal, but it’s not right.

Meanwhile . . . the average taxpayer paid $1,026 more to cover the billions that GE and others skipped out on last year, companies that don’t use these schemes keep struggling to compete with those that do, and state legislatures and Congress are considering deep cuts for essential public programs — from education, to health care, to clean air and drinking water.

We're being asked to tighten our belts and make sacrifices while giving the tax haven crew a free ride. U.S. PIRG is pushing for commonsense changes that simply say that if corporations are based here and generate profits here, then they should, like all of us who earn income here, pay the taxes they owe.

Issue updates

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

Obama Plan to Close Corporate Loopholes, Invest in Infrastructure Promising, but Lacks Critical Details

In his State of the Union Address tonight, President Obama called for closing corporate tax loopholes and investing in infrastructure. His plan is promising, but lacks critical details.

> Keep Reading
Media Hit | Tax

Elizabeth Warren's New Bill Could Save Taxpayers Billions

Last week, Sen. Elizabeth Warren (D-Mass.) introduced a bill with Sen. Tom Coburn (R-Okla.) that aims to make government settlements with corporations more transparent and fair. It could end up saving taxpayers billions of dollars.

> Keep Reading
Media Hit | Tax

Bill would boost disclosures in corporate settlements with U.S.

Concerned that targets of federal investigations are getting off lightly, two senators proposed legislation requiring the government to disclose all the details about settlements that allow companies to duck trials on allegations of wrongdoing.

> Keep Reading
News Release | U.S. PIRG | Budget

A Step In The Right Direction: Appropriations Bill Roots Out Some Waste, but Doesn’t Do Enough To Protect Public Priorities and End Special Interest Handouts

Statement of U.S. PIRG Tax and Budget Associate Jaimie Woo on the Bipartisan Omnibus Appropriations Bill passed by the House of Representatives. 

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Media Hit | Budget

Congress Sheds Light On Government Waste

The House Oversight and Government Reform Committee discussed ways to reduce government waste at a hearing Thursday, with a group of think tanks offering recommendations that ranged from cutting military programs to stopping aid to states.

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Media Hit | Tax

Senate bill targets corporations that deduct settlement payouts

JPMorgan Chase’s pending $13 billion settlement with the Justice Department has revived calls from some in Congress that corporations should be prevented from claiming tax deductions on such deals.

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Media Hit | Tax

We lost our house, the economy crashed, and you made a fortune. How much do we owe you?

JPMorgan should not get taxpayer subsidies for ruining countless people's lives. Its actions were not just the ordinary and necessary cost of doing business.

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News Release | U.S. PIRG | Tax

U.S. PIRG Applauds Bipartisan Bill Barring Tax Write-Offs for Corporate Wrongdoing

 We applaud Senators Reed and Grassley for introducing legislation to address the outrageous tax deductions corporations often take for settlements they pay for harming the public.

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Media Hit | Budget, Tax

Government must shut down corporate tax havens

American citizens continue to bear the brunt of many congressional decisions lately, or perhaps, lack thereof. Congress's inability to grapple with our budget crises ultimately led to a government shutdown and fight over the debt ceiling. Yet one common-sense solution is not difficult to find: stopping the abuse of offshore tax havens that costs us an estimated $150 billion in annual revenue.

> Keep Reading


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Some of the nation’s most prosperous people and companies — including GE, Google and Goldman Sachs — avoid paying the taxes they owe, costing taxpayers $150 billion just last year.

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