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Blog Post | Consumer Protection, Financial Reform

SENATORS HOLD CFPB DIRECTOR HOSTAGE, ROIL MARKETS | Deirdre Cummings

On Friday, most Senate Republicans again sent the President a letter saying they would not confirm Richard Cordray to a full term as CFPB director unless the agency's powers and independence were first gutted. Their intransigence contributes to market uncertainty that ignores at least three things: The CFPB is here to stay; the public wants the CFPB; and, banks lose to payday lenders if the director is not confirmed.

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News Release | MASSPIRG Education Fund | Budget, Tax

Offshore Tax Dodging Blows a $1.6 Billion Hole in Massachusetts Budget

With Massachusetts in the midst of a budget crisis, MASSPIRG, joined by business leaders and elected officials, released a new study revealing that Massachusetts lost $1.6 billion due to offshore tax dodging in 2012. Many of America’s wealthiest individuals and largest corporations, including Wells Fargo, Citigroup, McDonalds, Target, Costco, Exxon Mobil, Intel, and Coca-Cola, and Sears  use tax loopholes to shift profits made in America to offshore tax havens, where they pay little to no taxes.

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Report | MASSPIRG Education Fund | Budget, Tax

The Hidden Costs of Offshore Tax Havens

When U.S. corporations and wealthy individuals use offshore tax havens to avoid paying taxes to the federal government, it is an abuse of our tax system. Tax haven abusers benefit from our markets, infrastructure, educated workforce, and security, but they pay next to nothing for these benefits. Ultimately, taxpayers must pick up the tab, either in the form of higher taxes, cuts to public spending priorities, or increased national debt. Massachusetts alone lost $1.66 billion in 2012.

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News Release | MASSPIRG, Coalition to Update the Bottle Bill | Solid Waste

Updated Bottle Bill Builds Steam

In a sign that the Updated Bottle Bill has more support on Beacon Hill than ever before, the final tally of cosponsors in the Legislature included the highest number the bill has ever garnered, coming at at 95 (75 in the House, 25 in the Senate). Giving the measure even more momentum, on Friday, Executive Office of Energy and Environmental Affairs Secretary Rick Sullivan proposed an increase in the bottle bill handling fee.  This handling fee (which has nothing to do with the 5-cent deposit) is what the bottling industry pays redemption centers, grocery stores, and other businesses for collecting and transporting bottles and cans for recycling.

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Media Hit | Budget, Tax

Bill aims to woo Broadway-bound shows

Deirdre Cummings, the legislative director for the Massachusetts Public Interest Research Group, does not want any new tax credits until there is a proper study done to determine the value of existing credits.

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Media Hit | Tax

Liberty Mutual critics decry executive’s pay package

The revelation that Liberty Mutual paid chairman Edmund F. “Ted’’ Kelly about $200 million during the past four years has angered some customers and watchdog groups. MASSPIRG's Deirdre Cummings provides her insight.

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News Release | MASSPIRG | Health Care

MASSPIRG urges House to Oppose Drug Industry’s Costly Marketing Schemes

 

MASSPIRG urges House law makers to oppose  efforts by Big Pharma to repeal the prescription drug gift ban or the ban on rx drug marketing  coupons in the House Budget.  See our Letter to House on Prescription Drug Ban,  and our Letter to House on Drug Company Marketing Coupons here.

 

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News Release | MASSPIRG | Health Care

Health Care For All, MASSPIRG, AARP Urge Preservation of the Pharmaceutical and Medical Device Gift Ban

The state’s largest consumer, health care and senior organizations called on House members to oppose the partial repeal of the Pharmaceutical and Medical Device Gift Ban Law, commonly known as the gift ban, included in the House Ways and Means budget released today.

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Media Hit | Budget, Tax

Taunton Daily Gazette - The real cost of off- shore tax havens

Many Americans would be shocked to hear about an invisible tax burden put on them this year by some of the largest, most profitable corporations that use offshore tax havens to avoid paying their full tax bill. This tax dodging costs taxpayers an estimated $100 billion every single year.

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News Release | MASSPIRG Education Fund | Budget, Tax

Average Massachusetts Taxpayer Would Have to Pay $636 to Make Up for Offshore Tax Haven Abuse, Small Businesses, $3,349

“When corporations shirk their tax burden by shifting profits legitimately made in the U.S. to offshore tax havens like the Caymans, the rest of us must pick up the tab through either cuts to public spending priorities, higher taxes, or more debt...”

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