Work for passage of the Corporate Tax Fairness Act

This bill, written by Senators Sanders and Schakowsky, would provide the following: 1. Ending the deferral of foreign source income that allows U.S. corporations to avoid paying taxes on overseas profits.
2. Closing loopholes that allows U.S. corporations to artificially inflate or accelerate foreign tax credits.
3. Preventing corporations from avoiding U.S. taxes by claiming to be a foreign company through the establishment of a post office box in a tax haven country.
4. Eliminating tax loopholes for big oil companies that allow them to disguise royalty payments to foreign governments as foreign taxes. This action is expected to raise more than $590 billion in revenue in the next decade. The country needs these loopholes closed to increase revenue.