Tax Havens and the Business Lobby (May 7, 2009)

The Obama administration’s plan to crack down on US tax evasion not only targets corporations but also powerful lobbies that helped draft the legislation which made it easier for big businesses to evade taxation. Groups including the Business Roundtable, the US Chamber of Commerce, and the National Association of Manufacturers, formed a lobbying coalition called Protect America’s Competitive Edge. This lobby aims to defeat the President’s tax proposals, and openly threatens the government with outsourcing jobs if such legislation is enacted. Earlier, business lobbyists successfully ruined an important housing bill that could have “prevented 20 percent of foreclosures, at no cost to taxpayers.” (Huffington Post)

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