Despite New Questions of Russian Connections, Trump Continues to Refuse to Release Tax Returns

Washington, D.C. – Despite new allegations about Donald Trump’s business ties to Russia, Trump still refuses to release his federal tax returns, raising even more questions about what he is hiding.

Conservative columnist George Will raised the issue on Fox News, saying Trump refuses to release his tax returns because they may show “he is deeply involved in dealing with Russian oligarchs.” Continue reading →

Clinton Ad Highlights Need For Urgent Action By Obama To Prevent Tax-Dodging Corporate Mergers

Washington, D.C. – Americans for Tax Fairness Action Fund applauds Hillary Clinton’s new campaign ad denouncing Johnson Controls for “gaming the system and moving profits to Ireland so they can avoid paying taxes here at home.”

“With this ad, Hillary Clinton makes a clear case for why the Obama Administration should close the loophole that will allow Johnson Controls to walk away from the taxes it owes on $8.1 billion of untaxed offshore profits,” said Frank Clemente, executive director of Americans for Tax Fairness Action Fund. “The Administration can, and should, act quickly. Pfizer, the giant pharmaceutical company, is trying to take advantage of the same loophole, which could allow it to dodge tens of billions in taxes when it too merges with an Irish company.” Continue reading →

Clinton Corporate Inversion Proposals Would Kill Tax Benefits of Pfizer-Allergan Merger

Washington, D.C. – Frank Clemente, executive director of Americans for Tax Fairness Action Fund, released the following statement in support of Hillary Clinton’s plan to end corporate inversions:

“We support Secretary Clinton’s bold proposal to close the corporate inversion tax loophole, which lets U.S. multinationals desert America to dodge taxes by changing their legal address to an offshore location, typically a tax haven.

“If this proposal were to become law, the tax benefits of the planned Pfizer-Allergan merger would evaporate. Continue reading →

Trump Tax Plan: Huge Tax Cuts For The Rich & Big Corporations, Huge Loss Of Revenue

Washington, D.C. – Americans for Tax Fairness Action Fund Executive Director Frank Clemente made the following statement about Donald Trump’s tax plan today.

“The emperor has no clothes. Despite all his populist talk that it’s ‘outrageous’ how little tax multimillionaires and ‘the hedge fund guys’ pay, Donald Trump’s tax plan is yet another giveaway to the super rich and big corporations. The top 1% will get a tax cut of $184,000 a year, while the bottom 20% will get a tax break of just $250, according to Citizens for Tax Justice. Trump’s tax giveaways will cost the American people more than $10 trillion over 10 years. That’s $10 trillion less for education, infrastructure, health care, retirement security, medical research and more. Continue reading →