The Chamber of Commerce has, of course, weighed in on behalf of the corporations, claiming that the legislation is a “job killer.” Closing the loopholes in question would raise about $14.5 billion over ten years, or about $1.5 billion per year from the entire multinational corporation community. According to the National Employment Law Project, 1.2 million Americans who are currently eligible for extend will lose them in June if Congress doesn’t act. The Wonk Room has more.International Business Machines Corp. and trade groups for major U.S. companies are pressing Congress to defeat a jobs bill containing billions of dollars in taxes on their global operations…In a letter to lawmakers yesterday, Armonk, New York-based IBM, the world’s biggest computer-services provider, told lawmakers it “strongly opposes” the legislation and would rather do without the research credit than face new taxes on overseas profits.
"I never did give anybody hell. I just told the truth and they thought it was hell." Harry S. Truman
Tuesday, May 25, 2010
Big corporations work to kill unemployment benefits extension because it closes their tax loopholes.
By working on a package extending several popular tax breaks as well as important social safety net provisions like
This week, the House of Representatives is
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment