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CTJ Statement: Trump Tax Plan Would Cost $12 Trillion Over 10 Years

September 28, 2015 03:18 PM | Permalink | *Updated as of November 4, 2015For Immediate Release: Monday, September 28, 2015 Contact: Jenice R. Robinson, 202.299.1066 x29 or Jenice@ctj.org(Washington, D.C.) Donald Trump released a tax plan today that is missing some details. But a preliminary analysis of the plan by Citizens for Tax Justice finds that[…]

The EITC and CTC Greatly Reduce Poverty; Congress Must Act to Strengthen These Programs

September 16, 2015 11:14 AM | Permalink | Read the report as a PDF.Two of the most significant programs helping families living in poverty are provided through the tax code – the Earned Income Tax Credit (EITC) and the Child Tax Credit (CTC). Together, these two tax credits (excluding the non-refundable part of the CTC)[…]

More Than Half of Jeb Bush's Tax Cuts Would Go To the Top 1%

September 11, 2015 05:29 PM | Permalink | Read the report as a PDF.Jeb Bush Tax Plan Turns Populism on Its HeadEarlier this week, presidential candidate Jeb Bush released the details of his plan to restructure personal and corporate income taxes. A new Citizens for Tax Justice analysis of the tax plan reveals that it[…]

Jeb Bush's Tax Plan Is a Corporate Giveaway Disguised as Tax Reform

September 9, 2015 12:52 PM | Permalink | For Immediate Release: Wednesday, Sept. 9, 2015 Contact: Jenice R. Robinson, 202.277.8750, Jenice@ctj.orgJeb Bush’s Tax Plan Is a Corporate Giveaway Disguised as Tax ReformFollowing is a statement by Bob McIntyre, director of Citizens for Tax Justice, regarding the tax plan outlined today by presidential candidate Jeb Bush.[…]

CTJ's Debate Prep Guide to the Republican Candidates

August 6, 2015 10:31 AM | Permalink | Whether the candidates’ positions on taxes will be discussed during tonight’s Republican candidate’s debate remains to be seen, but tax policy will be a central issue this election cycle. By now, it’s apparent to most Americans that the notion that politicians can keep cutting individuals and corporate[…]

Memo to Senate Permanent Subcommittee on Investigations: US Corporations Already Pay a Low Tax Rate

July 30, 2015 09:14 AM | Permalink | Read the report as a PDF.On July 30th, the Senate Permanent Subcommittee on Investigations (PSI) will hold a hearing on the impact of the U.S. tax code on foreign acquisitions of U.S. businesses. It is likely that Subcommittee Chairman Sen. Rob Portman (R-OH) will use the hearing[…]

Press Statement: Gov. Kasich Is a 'Compassionate' Tax-Cut-for-the-Rich Conservative

July 21, 2015 01:53 PM | Permalink | For Immediate Release: Tuesday, July 21, 2015 Contact: Jenice R. Robinson, 202.299.1066 x 29, Jenice@ctj.orgGov. Kasich Is a ‘Compassionate’ Tax-Cut-for-the-Rich ConservativeFollowing is a statement by Bob McIntyre, director of Citizens for Tax Justice, regarding Ohio Gov. John Kasich’s entry into the Republican presidential candidate field.“John Kasich has tried[…]

Press Statement: Senate Finance Committee Hearing on Tax Extenders

July 21, 2015 12:07 PM | Permalink | For Immediate Release: Tuesday, July 21, 2015Contact: Jenice R. Robinson, 202.299.1066 x 29, Jenice@ctj.org CTJ Statement on Senate Finance Committee Hearing on Tax ExtendersFollowing is a statement by Bob McIntyre, director of Citizens for Tax Justice, regarding a Senate Finance Committee hearing today on a proposal to extend[…]

$2.1 Trillion in Corporate Profits Held Offshore: A Comparison of International Tax Proposals

July 14, 2015 02:18 PM | Permalink | Read the report as a PDF.The U.S. system of taxing multinational corporations’ earnings encourages companies to direct more investment abroad, either in reality or on paper.  The fact that the earnings of the foreign subsidiaries of U.S. corporations are not taxed until they are officially transferred to[…]

Press Statement: Senate Tax Writers Float Tax Plan That Bends to Corporations' Will

July 8, 2015 01:15 PM | Permalink | For Immediate Release: Wednesday, July 8, 2015Senate Tax Writers Float Tax Plan That Bends to Corporations’ WillFollowing is a statement by Bob McIntyre, director of Citizens for Tax Justice, regarding a bipartisan tax framework announced today by U.S. Sens. Chuck Schumer (D-NY) and Rob Portman (R-Ohio) that[…]

General Electric Routinely Pays Little or No State Income Taxes

June 17, 2015 12:48 PM | Permalink | Read the report as a PDF.Last week the Connecticut legislature agreed on a budget for fiscal year 2016 that includes loophole-closing provisions designed to make sure that profitable multi-state corporations will pay their fair share of the corporate income tax. Since then, a few big corporations including[…]

Press Statement: Monsanto Tax Inversion Attempt Highlights Need for Congressional Action

June 10, 2015 01:28 PM | Permalink | For Immediate Release: Wednesday, June 10, 2015 Contact: Jenice R. Robinson, 202.299.1066 x 29, Jenice@ctj.orgMonsanto Tax Inversion Attempt Highlights Need for Congressional ActionFollowing is a statement by Bob McIntyre, director of Citizens for Tax Justice, regarding the chemical producer Monsanto’s ongoing effort to use a tax inversion[…]

A "Patent Box" Would Be a Huge Step Back for Corporate Tax Reform

June 4, 2015 02:39 PM | Permalink | Read the report as a PDF.What would you think about a corporate income tax regime under which the bigger a company’s profit margin, the lower its tax rate? Or a system that applies a special low tax rate to profits from selling products on which a company[…]

Press Statement: Rick Santorum's Definition of Populism Is Massive Tax Breaks for the Wealthy

May 27, 2015 12:49 PM | Permalink | For Immediate Release: Wednesday, May 26, 2015 Contact: Jenice R. Robinson, 202.299.1066 x 29, Jenice@ctj.orgRick Santorum’s Definition of Populism Is Massive Tax Breaks for the Wealthy Following is a statement by Bob McIntyre, director of Citizens for Tax Justice, regarding Rick Santorum’s entry into the Republican presidential candidate field.[…]

Press Statement: Research Credit Is Synonymous with Corporate Giveaway

May 20, 2015 10:39 AM | Permalink | For Immediate Release: Wednesday, May 20, 2015 Contact: Jenice R. Robinson, 202.299.1066 x 29, Jenice@ctj.orgResearch Credit Is Synonymous with Corporate Giveaway Following is a statement by Robert McIntyre, director of Citizens for Tax Justice, regarding the research credit, a bill that has bi-partisan support and is expected to[…]

Five Things You Should Know this Tax Day

April 9, 2015 06:26 PM | Permalink | Read this report in PDF.1. The nation's tax system is just barely progressive.A new CTJ analysis based on 2015 tax rates reveals that when federal, state and local taxes are tallied, the share of taxes paid by Americans across the economic spectrum is roughly equivalent to their[…]

Fifteen (of Many) Reasons Why We Need Corporate Tax Reform

April 9, 2015 12:49 PM | Permalink | Companies From Various Sectors Use Legal Tax Dodges to Avoid TaxesRead this report in PDF.This CTJ report illustrates how profitable Fortune 500 companies in a range of sectors of the U.S. economy have been remarkably successful in manipulating the tax system to avoid paying even a dime[…]

The U.S. Is One of the Least Taxed Developed Countries

April 9, 2015 10:39 AM | Permalink | Read this report in PDF.The most recent data from the Organization for Economic Cooperation and Development (OECD) show that the United States is one of the least taxed developed nations.A tally of all taxes collected at the federal, state and local levels reveals that in 2013 the[…]

The U.S. Collects Lower Level of Corporate Taxes Than Most Developed Countries

April 9, 2015 10:32 AM | Permalink | Read this report in PDF.The United States has one of the lowest corporate tax levels in the developed world, according to an analysis of the most recent data from the Organization for Economic Cooperation and Development (OECD). In 2013, the United States had the eighth lowest level[…]

Who Pays Taxes in America in 2015?

April 9, 2015 10:01 AM | Permalink | Read this report in PDF.All Americans pay taxes. Everyone who works pays federal payroll taxes. Everyone who buys gasoline pays federal and state gas taxes. Everyone who owns or rents a home directly or indirectly pays property taxes. Anyone who shops pays sales taxes in most states.But[…]

Dozens of Companies Admit Using Tax Havens

April 1, 2015 01:23 PM | Permalink | Hundreds More Likely Do the Same, Avoiding $600 Billion in U.S. TaxesRead this report in PDF (Includes Company by Company Appendices)Download the Company by Company PRE Data (XLS)It’s been well documented that major U.S. multinational corporations are stockpiling profits offshore to avoid U.S. taxes. Congressional hearings over[…]

Press Statement: House Budget Vague on Vital Tax Reform Questions, Clear on Tax Cuts for the Wealthy

March 17, 2015 05:09 PM | Permalink | For Immediate Release: Tuesday, March 17, 2015 Contact: Jenice R. Robinson, 202.299.1066 x 29, Jenice@ctj.orgFollowing is a statement by Robert McIntyre, director of Citizens for Tax Justice, regarding the House Budget proposal for fiscal year 2016 released today. “The House leadership’s budget (A Balanced Budget for a Strong[…]

Proposed Expansion of EITC to Childless Workers Would Benefit 10.6 Million Individuals and Families

March 4, 2015 02:02 PM | Permalink | PDF of this report.On March 4, 2015, Senate and House Democrats proposed the "Working Families Tax Relief Act of 2015," a bill that would improve the Earned Income Tax Credit (EITC) for childless workers. The bill would provide an average annual tax benefit of $604 to 10.6[…]

Making the EITC and CTC Expansions Permanent Would Benefit 13 Million Working Families

February 20, 2015 10:07 AM | Permalink | PDF of this report.One of the most effective ways in which the American Recovery and Reinvestment Act (ARRA) helped increase economic opportunity was through expansions of the Earned Income Tax Credit (EITC) and the Child Tax Credit (CTC). The temporary improvements to the credits have helped working[…]

A First Look at the Best (and Worst) Provisions in President Obama's FY16 Budget Proposal

February 6, 2015 10:17 AM | Permalink | PDF of this report.Earlier this week, President Barack Obama released details of his proposed federal budget for the fiscal year ending in 2016. While many observers and some members of Congress derided the budget blueprint as an irrelevant exercise in political theatre, the President’s plan includes a[…]