Good News and Bad News on Corporate Tax Loopholes
The good news is that because of your help, and the help of thousands of other MASSPIRG supporters, the Massachusetts House of Representatives voted overwhelmingly (131-23) to close two big corporate tax loopholes. This will prevent some large, multi-state corporations from avoiding over $400 million a year in state taxes and leaving Massachusetts households and companies to pick up the tab.
But here’s the bad news: The bill to close these tax loopholes actually created a brand new loophole that will make it easier for some multi-national companies like Exxon and Wal-Mart to avoid paying state taxes by shifting profits to overseas subsidiaries.
Tomorrow, the Senate is going to take up the bill. Please e-mail your senator and tell them to take the new loophole out of the bill.
Click here for more information our Campaign to Close Corporate Tax Loopholes.
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