We stand up for a Massachusetts where everyone gets a fair shot, does and pays their fair share, and plays by the same rules.
Today, I delivered thousands of signatures, including some to every office in the House. Our media release is below. Thanks for all your support!
4,000+ CALL FOR AN END TO $79 MILLION IN OFFSHORE TAX LOOPHOLES IN THE MASSACHUSETTS BUDGET
Massachusetts Fair Share delivers petitions asking legislators to stop the “$79 million tax heist” and make corporations pay their fair share.
BOSTON – On Wednesday, April 2, Massachusetts Fair Share delivered 4,083 petitions to legislators calling for an end to a tax loophole that allows corporations to hide profits in tax shelters, which costs the state $79 million annually. The House version of the FY15 budget is set to come out next week.
“It’s about time that these corporations start living by the same rules as the rest of us. It’s time to close corporate tax loopholes and invest in an economy that works for everyone. We don’t need to wait for Congress, but we need Massachusetts legislators to act,” said Nathan Proctor, State Director of Massachusetts Fair Share.
This simple reform, already in place in Oregon and Montana, requires that companies treat profits made in Massachusetts and funneled to known tax havens like the Cayman Islands as domestic taxable income.
The petition, which MoveOn helped to promote, reads:
“Massachusetts could save $79 million in the state budget by closing a loophole which allows companies to dodge taxes with offshore tax havens. Just about anything would be a better use of $79 million than letting huge, multinational corporations hide profits in tax shelters like the Cayman Islands.
“Please take immediate action to close these loopholes.”
“These loopholes allow a few companies to avoid taxes the rest of us pay,” Proctor said. “If we close the loopholes, we could use the revenue in ways that would benefit so many of us – for example, expanding preschool, investing in job growth, and improving public transportation. If we all pay our fair share, we’ll have a stronger Massachusetts.”