John,

Under the Obama administration, we successfully fought for new rules that made it difficult for corporations to dodge taxes by changing their headquarters address to a tax haven. But a few corporations have still managed to do it, and scores more did it before we got the rules changed.

Right now, corporations that have merged with a foreign entity and changed their headquarters address (but not their main operations) offshore to tax havens such as Bermuda or Ireland are still eligible to receive federal pandemic aid.

This is outrageous! A multinational corporation that has renounced its U.S. citizenship to avoid paying its fair share in taxes here at home should not see a dime of U.S. taxpayer aid.

Read Frank’s email below for more information and then pitch in to Americans for Tax Fairness Action Fund today to demand the Federal Reserve reject tax cheating multinational corporations who apply for federal pandemic relief.

That aid, passed by Congress, is meant for U.S. businesses and working people, not corporate tax dodgers.

Thank you,

Andrea Haverdink

Digital Director
Americans for Tax Fairness Action Fund

-- Frank's Email --

John,

The Trump administration’s handling of the pandemic has been a disaster with over 110,000 Americans dead and 2 million having contracted the COVID-19 virus. And, at the center of this mess are corporations who have taken advantage of federal loans meant for struggling U.S. businesses.

Now, we’ve learned that based on the Federal Reserve’s guidelines, corporations that have shifted their legal address to an offshore tax haven or other foreign country to avoid paying their fair share in U.S. taxes, but still maintain most of their operations here in the U.S., are eligible to receive federally backed loans that were included in the first pandemic relief package.

These unpatriotic corporate tax dodgers who have renounced their U.S. citizenship do not deserve to be bailed out by U.S. taxpayers. Donate to Americans for Tax Fairness Action Fund today to fight back against this blatant manipulation of COVID-19 response legislation.

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Multinational corporations already have huge advantages by shifting their operations and profits offshore. That’s because the Trump-GOP tax scam slashed the tax rate on U.S. corporate profits earned offshore to about 10.5%, half the 21% tax rate on profits earned here at home. And that 21% domestic rate was far below the 35% rate corporations paid before the tax scam.[2]

I don’t know how to say it any clearer: These unpatriotic, tax-dodging, profit-maximizing corporations focused on enriching their exhorbitantly-paid CEOs and wealthy shareholders should not get any help from us taxpayers.

That’s why we’re working with our allies in Congress to change these rules, which put corporate greed ahead of working people and businesses most in need.

Donate today to fight back against corporate tax cheats who manipulate a rigged system that benefits those on top.

Thanks for all you do to demand a pandemic response and a U.S. tax system that puts people and Main Street businesses first, not corporate tax cheats.

Frank Clemente
Executive Director
Americans for Tax Fairness Action Fund

[1] “Firms That Left U.S. to Cut Taxes Could Qualify for Fed Aid,” Bloomberg, May 15, 2020

[2] “Tax Cuts for ‘Insourcing’ Corporations Would be a Costly Mistake,” Americans for Tax Fairness, June 3, 2020