Tax

News Release | NJPIRG | Budget, Tax

Senate Budget Debate Shows Bipartisan Support for Closing Offshore Tax Loopholes

A bipartisan group of senators agree that closing offshore tax loopholes, which allow large profitable companies to dodge billions in taxes, needs to be part of the budget. We applaud Sens. Levin (D-MI), McCain (R-AZ), and Whitehouse (D-RI) for proposing an amendment to the budget resolution that gives budget writers the authority to ‘end offshore tax abuses used by large corporations.’

News Release | NJPIRG Law & Policy Center | Budget, Tax

Offshore Tax Dodging Saps $2.8 Billion from New Jersey’s Budget

NJPIRG, New Jersey Citizen Action, and the New Jersey Main Street Alliance came together at a Jersey City small business on 2/6/2013 to discuss a new NJPIRG study revealing that New Jersey lost $2.8 billion in state revenue due to offshore tax dodging in 2012.

Report | NJPIRG Law & Policy Center | Budget, Tax

The Hidden Cost of Offshore Tax Havens

Federal taxpayers are not the only victims of offshore tax havens. Tax havens deprive state governments of billions of dollars in badly needed revenues as well. Based how much income is federally reported in each state, and on state tax rates, it is possible to calculate how much each of the state governments lose as a result of offshore tax dodging.

News Release | NJPIRG Law & Policy Center | Tax

Report Exposes How Taxpayers Bear Cost of Corporate Settlements

A report released today spotlights a common practice where corporations that commit wrongdoing and agree to financial settlements with the federal government, go on to claim such settlement payments as tax-deductible business expenses.

Report | NJPIRG Law & Policy Center | Budget, Tax

Subsidizing Bad Behavior

BP’s recent $4.5 billion legal settlement with the Justice Department for its misdeeds in the Gulf oil spill was historic for being the largest ever criminal settlement. But it was historic for another reason as well—none of it is allowed to be tax deductible. Unfortunately, too many settlements for wrongdoing end up as tax deductions.

News Release | NJPIRG Law & Policy Center | Budget, Tax

“IT’S TIME TO LISTEN TO MAIN STREET, NOT WALL STREET”

TRENTON, December 6th – With Congress scrambling to agree on ways to reduce the deficit, NJPIRG and the NJ Main Street Alliance joined with New Jersey small business owners today, urging Congress and the President to listen to the needs of small businesses in ongoing debates over the fate of the Bush tax cuts and corporate tax loopholes. The groups were supported in their push for more equitable individual and corporate taxation by Congressman Frank Pallone, Jr. (NJ-06).

Report | NJPIRG Law & Policy Center | Budget, Tax

What America Could Do with $150 Billion Lost to Offshore Tax Havens

Many corporations and wealthy individuals use offshore tax havens—countries with minimal or no taxes—to avoid paying $150 billion in U.S. taxes each year. To put this sum in perspective, this factsheet provides examples of how it could be used.

Media Hit | Tax

Opinion: BP Settlement on Gulf Oil Spill Flows From Its Own Deep Pockets

Unlike earlier BP settlements related to the 2010 Deepwater Horizon oil spill in the Gulf, the November 2012 settlement forces the company to take responsibility for its crimes that tragically cost 11 workers’ lives and led to an environmental catastrophe - and this time, American taxpayers won’t be asked to pick up much of the tab.

News Release | NJPIRG Law & Policy Center | Budget, Food, Tax

Ag Subsidies Pay for 21 Twinkies per Taxpayer, But Only Half of an Apple Apiece

PARAMUS – Federal subsidies for commodity crops are subsidizing junk food additives like high fructose corn syrup, enough to pay for 21 Twinkies per taxpayer every year, according to NJPIRG’s new report, Apples to Twinkies 2012. Meanwhile, limited subsidies for fresh fruits and vegetables would buy one half of an apple per taxpayer.

Report | NJPIRG Law & Policy Center | Budget, Food, Tax

Apples to Twinkies 2012:

At a time when America is facing an obesity epidemic, crushing debt and a weak economy, billions of taxpayer dollars are subsidizing junk food ingredients.

In this report, we find that in 2011, over $1.28 billion in taxpayer subsidies went to junk food ingredients, bringing the total to a staggering $18.2 billion since 1995. To put that figure in perspective, $18.2 billion is enough to buy 2.9 billion Twinkies every year - 21 for every single American taxpayer.

In contrast, only $637 million has gone to subsidies for apples since 1995.

That's enough to buy 77 million apples per year on average - just half of one apple per taxpayer.

Pages

Subscribe to RSS - Tax

Support Us

Your tax-deductible donation supports NJPIRG Law & Policy Center's work to educate consumers on the issues that matter, and to stand up to the powerful interests that are blocking progress

Support Us

You can also support NJPIRG Law & Policy Center’s work through bequests, contributions from life insurance or retirement plans, securities contributions and vehicle donations.




NJPIRG Law & Policy Center is part of The Public Interest Network, which operates and supports organizations committed to a shared vision of a better world and a strategic approach to getting things done.