Press Releases

Watchdog: MAGA House Votes to Add $114B to Deficit to Protect Wealthy Corporate Tax Cheats and Donors

Economic Security and Corporate Power
January 9, 2023

In one of its first acts in the new Congress, the MAGA House majority voted to rescind necessary enforcement resources from the Internal Revenue Service to the benefit of wealthy corporate tax cheats and donors -- a move the nonpartisan Congressional Budget Office concluded will add $114.4 billion to the deficit over a decade.

Press Releases, Report

Analysis: Corporations Poised to Dodge $15M in New Stock Buyback Taxes Through ASR Loophole

Economic Security and Corporate Power
October 17, 2022

A new analysis from watchdog Accountable.US found that five publicly-traded companies have already announced nearly $1.5 billion in accelerated share repurchase (ASR) programs —potentially avoiding the roughly $15 million they would owe under the Inflation Reduction Act’s new 1% stock buyback tax—after spending $2.5 billion on buybacks.

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