Home Public AffairsPolicy Americans for Tax Fairness: Close Offshore Loopholes

Americans for Tax Fairness: Close Offshore Loopholes


As much as $767 billion is owed by American corporations on $2.6 trillion in untaxed profits stashed offshore.

A huge loophole allows multinational corporations to indefinitely defer taxes on earnings kept offshore. It’s a powerful incentive to keep profits overseas – and to use accounting maneuvers to shift domestic profits there, too.

In 2004, Congress created a repatriation tax holiday to encourage bringing that money home. The result: corporations cut tens of thousands of jobs, and 90¢ of every dollar in profits brought home went into stock buybacks and dividend payouts.

Let’s hope they don’t make the same mistake again.

Frank Clemente, Executive Director, Americans for Tax Fairness

You may also like

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

The Washington DC 100