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In the Tax Justice Digest we recap the latest reports, blog posts, and analyses from Citizens for Tax Justice and the Institute on Taxation and Economic Policy. Here’s a rundown of what we’ve been working on lately.
During the presidential debate, both candidates seized on tax issues. CTJ analyst Richard Phillips attempts to make sense of the spin, by explaining the difference between a value-added tax (VAT) and a tariff and outlining how cutting taxes and debt reduction are opposing ideas. Read more
Trump’s Tax Plan
CTJ this week released a distributional analysis of Donald Trump’s latest tax proposal. The plan would add $4.8 trillion to the debt over a decade and reserves the greatest share of tax cuts (44 percent) for the richest 1 percent. Although the plan cuts taxes across the board, it increases taxes for some demographic groups. Read more
When it comes to corporate tax data, the gatekeeper is a little known organization called the Financial Accounting Standard Board (FASB). ITEP used a comment letter this week to make the case to FASB for how more disclosure could help inform the public and lawmakers on how to best reform our tax code. Read more
This week’s state rundown discusses proposed new (or increased) taxes in Missouri, Illinois, Louisiana, California and Oregon and the spread of ‘dark store’ tax avoidance practices across the states. Read more
Offshore Tax Avoidance
Last week, Rep. Mark Pocan introduced the Corporate Transparency and Accountability Act, a bill that would require all publicly traded multinational companies to disclose their revenues, profits, taxes, and certain other operations information on a country-by-country basis (CbCR) to the Securities and Exchange Commission (SEC). Read more
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