San­ders Bill Will Close No­to­ri­ous Tax Shel­ter Loop­hole

Stanstead Journal - - NEWS BRIEFS - Wash­ing­ton, DC

Sen.Bernie San­ders (I-Vt.) yes­ter­day in­tro­duced a bill to stop prof­itable cor­po­ra­tions from shel­ter­ing in­come over­seas in the Cay­man Is­lands and other tax havens to avoid pay­ing U.S. taxes. The leg­is­la­tion also would end tax breaks for com­pa­nies that ship jobs and fac­to­ries over­seas.

“At a time when we have a $18.2 tril­lion na­tional debt and an un­sus­tain­able fed­eral deficit; at a time when many of the largest cor­po­ra­tions in Amer­ica are pay­ing no fed­eral in­come taxes; and at a time when cor­po­rate prof­its are at an all-time high, it is past time for cor­po­rate Amer­ica to pay their fair share in taxes so that we can cre­ate the mil­lions of jobs this coun­try needs,” San­ders said at a Capitol news con­fer­ence.

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