John,

Are you familiar with the term corporate inversion? It’s where a U.S. based business shifts its corporate headquarters―at least on paper―to an offshore tax haven such as the Cayman Islands or Ireland.

This allows multinational corporations, whose executives still run and operate the corporation in the U.S., to avoid paying their fair share of taxes here at home by making it look like their huge profits are being earned offshore.

We know that our tax dollars pay for critical services for people and families, our roads, schools, healthcare and more. And, at this desperate time of need in the midst of the pandemic, our tax dollars are supporting families and small businesses in need.

But, the U.S. Federal Reserve, which is managing $500 billion in pandemic financial aid to corporations, is allowing tax dodging corporate inverters to receive that aid, if they request it.[1] That’s not right! Corporations who don’t pay their fair share of taxes here at home shouldn’t get bailed out by U.S. taxpayers.

Now, Senator Dick Durbin (D-IL) and Representative Lloyd Doggett (D-TX) have introduced the American Assistance for American Companies Act, which would ensure that tax dodging corporate inverters cannot benefit from the CARES Act COVID-19 relief package.[2]

On this 4th of July, let’s demand that unpatriotic tax dodging corporations don’t get a dime of our tax dollars. Become a co-signer of the Durbin-Doggett American Assistance for American Companies Act today to ensure that COVID-19 relief goes to small businesses in need, not money grubbing, tax dodging, offshoring corporations.

This is a time of great need for many people and businesses. Together, we’re demanding a pandemic response that puts our needs first, not those of wealthy multinational corporations who continue to abuse a rigged tax system and economy,

Thank you,

Frank Clemente
Executive Director
Americans for Tax Fairness Action Fund

[1]“Firms That Left U.S. for Tax Reasons Could Qualify for Fed’s Aid,” Bloomberg, May 15, 2020

[2] Press Release: “Durbin, Doggett Introduce Bill To Prevent Tax Dodging Corporations From Receiving COVID-19 Relief,” June 24, 2020