Tax

When a company must pay a penalty for wrongdoing, should the public also shoulder a hidden subsidy for the corporation? Four factors are bringing this issue to a head.

Report | U.S. PIRG Education Fund | Budget, Tax

Following the Money 2013

Every year, state governments spend tens of billions of dollars through contracts with private entities for goods and services, subsidies to encourage economic development, grants, and other forms of spending. Accountability and public scrutiny are necessary to ensure that state funds are well spent.

Media Hit | Budget, Tax

Sacramento Bee: Tax Havens Let Billions Vanish Into Thin Air

Just how much state lawmakers across America shift the burden of supporting government off the wealthiest individuals and largest multinational corporations and down the income ladder is the focus of a pioneering analysis by the U.S. Public Interest Research Group Education Fund.

News Release | U.S. PIRG | Budget, Tax

New Maine Spending Transparency Website Announced in Governor’s Speech

The state of Maine launches a new spending transparency website with many strong features and some significant shortcomings.

Report | U.S. PIRG Education Fund | Budget, Tax

The Hidden Cost of Offshore Tax Havens

In 2011, states lost approximately $39.8 billion in tax revenues from corporations and wealthy individuals who sheltered money in foreign tax havens. Multinational corporations account for more than $26 billion of the lost tax revenue, and wealthy individuals account for the rest.

News Release | U.S. PIRG Education Fund | Budget, Tax

New Study: Offshore Tax Dodging Blows $40 Billion Hole in State Budgets

With states across the country facing dire fiscal crunches and lawmakers in Washington gearing up for more budget showdowns, U.S. PIRG Education Fund released a new study revealing that state budgets were hit collectively with $40 billion in lost revenue from offshore tax dodging last year.

Report | U.S. PIRG Education Fund | Budget, Tax

Transparency in City Spending

The ability to see how government uses the public purse is fundamental to democracy. Transparency in government spending checks corruption, bolsters public confidence, improves responsiveness, and promotes greater effectiveness and fiscal responsibility.

News Release | U.S. PIRG | Budget, Tax

Do New Mortgage Settlements Contain a Hidden $7 Billion Tax Subsidy for Banks?

Unless federal agencies prevent it, the banks in yesterday's settlement announcements will likely write off the penalties on their taxes, effectively forcing ordinary taxpayer to provide $7 billion in tax subsidies for their wrongdoing.

News Release | U.S. PIRG Education Fund | Budget, Tax

Report Exposes How Taxpayers Bear Cost of Corporate Settlements

A report released today spotlights a common practice where corporations that commit wrongdoing and agree to financial settlements with the federal government, go on to claim such settlement payments as tax-deductible business expenses. The new study, released by the U.S. Public Interest Research Group (U.S. PIRG), follows a record year of corporate settlements, while many more settlements relating to banking, environmental, and consumer safety issues are expected.

Report | U.S. PIRG Education Fund | Budget, Tax

Subsidizing Bad Behavior

BP’s recent $4.5 billion legal settlement with the Justice Department for its misdeeds in the Gulf oil spill was historic for being the largest ever criminal settlement. But it was historic for another reason as well—none of it is allowed to be tax deductible. Unfortunately, too many settlements for wrongdoing end up as tax deductions.

Pages

Subscribe to RSS - Tax

Support us

Your tax-deductible donation supports U.S. PIRG Education Fund’s work to educate consumers on the issues that matter, and the powerful interests that are blocking progress.

Learn More

You can also support U.S. PIRG Education Fund’s work through bequests, contributions from life insurance or retirement plans, securities contributions and vehicle donations.