BSP In the News
- The Hill: Frank Knapp, Small business opposes multinational corporations' tax avoidance
- Minimum Wage News at our BUSINESS FOR A FAIR MINIMUM WAGE website
- The Hill: Report: Taxpayers shoulder burden for offshore tax haven use
- Paramus Post (NJ): Offshore Tax Havens Cost Average Taxpayer $1,026 a Year, Small Businesses $3,067
- U.S. PIRG, Sen. Levin, Small Business Leaders Release "Picking up the Tab 2013: Average Citizens and Small Business Owners Pay the Price for Offshore Tax Havens"
- American Forum: Scott Klinger, Half Time at the Federal Budget Super Bowl
- Philadelphia Daily News: Talking Small Biz
- Triple Pundit: Don’t Blame Google and Starbucks For Minimizing Tax Bills
- Roll Call: Time for Plan C - Close the Floodgates on Corporate Tax Dodging
- CFO: Small Biz, the Fiscal Cliff, and the Big, Bad Bank
- Westerly Sun: Business leaders urge change in tax system
- McClatchy Tribune News Service: A plea for tax fairness from small businesses
- UPI: 'Fiscal cliff': Is there a Plan C to avoid tax increases, spending cuts?
- Madison Capital Times: Wisconsin business owners join national call to raise corporate taxes
- Charlotte Observer: Charlotte small business owners urge tax reform
- Politico: 'Revenue-neutral' tax reform takes hit
- National Journal: Sen. Levin, Small Businesses Push for Corporate Tax Hikes
- Washington Post: Sen. Levin wants corporate tax revenue in a fiscal cliff deal
- The Hill: Corporate revenues must be in debt deal
- Accounting Today: Small Business Leaders Urge Closing of Corporate Tax Haven Loopholes
Politico: 'Revenue-neutral' tax reform takes hit
By Lauren French and Joseph J. Schatz
Some liberals are putting corporations on notice: A tax reform next year could cost you.
Sen. Carl Levin predicted Friday that the Democrat-controlled Senate would not pass a corporate overhaul if it doesn’t raise hundreds of billions of dollars on companies — taking issue with the widely held notion that a corporate tax re-write should be “revenue-neutral.”
Levin’s comments came as the two parties try to reach a deal to avert the looming fiscal cliff and possibly set up a process for overhauling the tax code next year. ...
More than 600 business owners told Congress and Obama today that switching to a territorial tax system, which many corporations and Republicans support, would give an unfair advantage to multinational companies at a time when “all businesses — large and small — should contribute responsibly toward the costs of government and the well-being of the economy.”
The letter is part of a lobbying push by the American Sustainable Business Council, Business for Shared Prosperity and the Main Street Alliance to promote the businesses’ view that the corporate tax system disproportionately benefits large businesses that take advantage of tax “loopholes” and that any reform effort should work to correct that imbalance.
Closing corporate credits and deductions would bring in $100 billion annually, according to the letter-writers — money that should be used, they said, to pay down the debt. They propose keeping the current worldwide tax system in place but with major reforms to end tax provisions that allow corporations to establish shell companies in countries known for tax havens, like Bermuda.
Copyright 2012 Politico