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Jubilee USA Releases Statement on Levin-McCain-Whitehouse Budget Amendment 430 that would End Offshore Tax Abuses by Large Corporations
WASHINGTON - March 22 - Yesterday, Senator Carl Levin (D-MI), Senator John McCain (R-AZ) and Senator Sheldon Whitehouse (D-RI) introduced Amendment 430 to the Budget Resolution. This Amendment would end offshore tax abuses by large corporations. Executive Director Eric LeCompte of Jubilee USA Network, an interfaith organization that promotes solutions to poverty, releases the following statement on the amendment:
“Senators Levin, McCain and Whitehouse recognize that its not fair that some of the most profitable corporations use offshore tax loopholes to avoid paying taxes. As people of faith, we believe our budget is a moral document that must end corporate tax avoidance that takes from the poor and shifts the tax burden onto everyday Americans.
“When we address corporate tax avoidance in the US, it sends a strong message to the entire world that this kind of behavior is unacceptable. This is behavior that makes dodgy business practices the status quo and perpetuates the cycle of poverty around the globe.”