1,000 signatures reached
To: U.S. House of Representatives
Tell Your Representative: Close Corporate Tax Loopholes and Replace the Sequester Cuts
I'm asking you to become a co-sponsor of the Sequester Delay and Stop Tax Haven Abuse Act, introduced in the U.S. House by Reps. Rosa DeLauro and Lloyd Doggett.
This bill would would raise $220 billion over ten years by closing numerous tax loopholes that encourage U.S. corporations to move jobs, profits and operations offshore and avoid paying their fair share of taxes.
That revenue would be used to fully replace the next two years, and a portion of the third year, of the budget sequester, which has cut spending indiscriminately across the board, making no distinction between critical public priorities like Meals on Wheels, Head Start and Pell grants, and wasteful spending.
Please co-sponsor this important bill. Corporations should pay their fair share of taxes, and these hurtful cuts should end.
Why is this important?
Who do you want to help more -- General Electric or your grandma?
General Electric paid $0.00 or less in taxes for several recent years. It actually got $4.7 billion in tax refunds from the U.S. government. (You read that right.)
Your grandma has probably paid her fair share of taxes over the years. But when the next round of senseless automatic spending cuts to the federal budget kick in this January, many grandmas across the country on tight budgets won’t be able to get a hand from Meals on Wheels anymore.
A new bill was just introduced in the U.S. House of Representatives by Reps. Rosa DeLauro (D-CT) and Lloyd Doggett (D-TX). It would close up to $220 billion worth of corporate tax loopholes over 10 years.
That alone is enough to end the automatic spending cuts for more than two years.
But we don’t have a lot of time to build support for it. Leaders in Congress are making bargains about the budget right now that may lock in deep cuts for years to come.
All sorts of families will be affected by these mindless, across-the-board cuts, if we let them kick in. Everything from Head Start to health care to Pell grants to nutrition programs for women and babies will get the axe.
If these cuts are allowed to happen again, it’s going to get even harder to make it in this country -- if that’s even possible.
While families scrape by, GE’s got $108 billion in profits sitting offshore -- in Bermuda, Singapore and Luxembourg -- so that it can dodge its taxes. It’s also moved at least 25,000 U.S. jobs offshore since 2001.
Lots of other U.S. companies are doing exactly the same thing. The dollars we need to help families get back on solid ground are literally sitting around in the tropics and in little mountain towns in Europe -- everywhere but here.
Help grandmas, not GE. Tell your Representative right now to close corporate offshore tax loopholes and use the money to replace the automatic spending cuts known as the “sequester.”