Rep. Lloyd Doggett Introduces Three Excellent Bills to End Corporate Tax Evasion

[TexasTowelie]

As Americans file their taxes today, Central Texas' own U.S. Rep. Lloyd Doggett is introducing three bills to end corporate tax evasion alongside a Government Accountability Office report showing their massive growth. While questioning Treasury Secretary Jack Lew on Thursday, Doggett noted that corporations have successfully lobbied the Obama Administration and Congress to deny the United States millions in owed corporate taxes:

Of the many Americans who are right now getting their taxes ready to file, I doubt there are very many that think they will be able to pay a mere nickel on the dollar. But there are many of America's largest corporations that continue lobbying the Administration, and this Congress to let them pay a nickel on the dollar in taxes on a significant portion of their earnings.

Doggett continued, noting that American companies lead the world in escaping taxes and that the fiscal cliff "deal" made earlier this year only makes the problem worse by granting corporations more loopholes and giving them major tax cuts:

Over a three-year period, 30 Fortune 500 companies devoted more of their monies to lobbying this Congress than they did in paying taxes to the Treasury. Some have a negative tax rate. Many of our largest corporations are paying effective rates that are single digits...We know the history, this very year, is that in the fiscal cliff negotiations and the law that was finally approved, corporate America didn't contribute a dime. In fact, some corporations got major tax cuts out of the fiscal cliff negotiations.

More at http://www.burntorangereport.com/diary/13369/rep-lloyd-doggett-introduces-three-excellent-bills-to-end-corporate-tax-evasion .