PERVASIVE TAX AVOIDANCE—Across the country, some of the nation’s most prosperous people and companies — including GE, Google and Goldman Sachs — have avoided paying the taxes they owe, costing taxpayers $150 billion just last year.
By creating shell companies or shifting profits overseas, companies including ExxonMobil, GE and Bank of America have been able to avoid paying the taxes that they owe — which cost us $90 billion last year.
The CUT Loopholes Act would put an end to the price and profit shifting that allows 83 of the top 100 publicly traded companies to engage in pervasive tax avoidance.
Cut unjustified tax loopholes
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