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Sanders, Schatz, Schakowsky Introduce Bill to Prevent Corporate Tax Dodging


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Sanders, Schatz, Schakowsky Introduce Bill to Prevent Corporate Tax Dodging

Senator Bernie Sanders

WASHINGTON - Citing new evidence that many profitable corporations evade paying any U.S. income taxes, Sens. Bernie Sanders (I-Vt.) and Brian Schatz (D-Hawaii) Thursday introduced a bill to eliminate tax breaks that encourage corporations to shift jobs and profits offshore. Rep. Jan Schakowsky (D-Ill.) introduced a companion bill in the House.

In addition to closing loopholes, the Corporate Tax Dodging Prevention Act would tax the $2.4 trillion that American corporations currently hold offshore at the full corporate tax rate of 35 percent.

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