Message from the American Sustainable Business Council:
Why Should Apple, Kodak and Pfizer Get Another Giant Tax Break?
A coalition of multinational corporations – including many household names – is pushing for a massive tax holiday on profits they’ve parked overseas.
George Bush gave out a similar tax holiday to U.S. multinationals in 2004.
Back then, the money became a huge windfall to corporate owners and shareholders – including many CEOs – in the form of stock buybacks and dividends. And then U.S. multinationals eliminated more American jobs and shifted even more income and investment to offshore tax havens.
This time, it is estimated to cost the U.S. Treasury $80 billion. That’s $80 billion that could be invested in services and infrastructure that all businesses depend on.
Numerous business organizations have sent a letter to Congress opposing the proposed tax holiday for multinational companies and calling for closing offshore tax haven abuse. Read the letter here. Then contact your Congressman to encourage him or her to tell multinational corporations to pay their fair share of U.S. taxes.