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Articles tagged with: Taxes

AFR Statement: New Report on Goldman Sachs and the Trump Administration
October 10, 2017 – 9:12 am

The New York investment bank has had other periods in the sun, but never before have its priorities been so hardwired into an administration in Washington. The report details Goldman’s interests in areas of public policy including financial regulation, tax cuts and infrastructure.

TOWS Statement: Make Wall Street Pay Its Fair Share in Taxes, Raise $1 Trillion in Federal Revenue
July 18, 2017 – 8:39 am

The Take On Wall Street campaign, a group of over 50 community groups, unions, consumer advocates and others today called on Senate Finance Committee Chairman Orrin Hatch to adopt tax reform measures that would raise more than $1 trillion in additional revenue, and discourage dangerous Wall Street speculation by requiring the financial services industry to pay its fair share of taxes.

“Take on Wall Street” Statement: Time to Close an Egregious Loophole
May 2, 2017 – 11:21 am

“‘It’s hard to find a more egregious example of Wall Street billionaires rigging the rules for their own advantage than the carried interest loophole,’ said Jon Green, Campaign Manager for the Take on Wall Street campaign. ‘It is an outrageous and unfair benefit for the wealthy and powerful for no reason other than that they are wealthy and powerful. Every member of Congress should stand with Senator Baldwin and Representative Levin in supporting this bill.'”

AFR in the News: Demanding transparency and fairness from Trump tax plan (The Hill)
April 28, 2017 – 11:00 am

“What Americans want and will continue to demand is, of course, the exact opposite of what Trump’s tax plan represents. They want to see the loopholes closed and Wall Street paying more, not less. Senator Bernie Sanders and Representative Keith Ellison have proposed a sales tax on Wall Street transactions; that would be a good start. Working families pay taxes when they buy a car or a pair of shoes.”

AFR in the News: Trump Vows to Unveil Tax Plan (NY Times)
April 23, 2017 – 10:15 pm

“As business groups cheered [deregulation] moves, some skeptics were left questioning whether Mr. Trump was keeping his campaign promises to give working-class Americans a higher priority than Wall Street bankers. ‘From our perspective, it is a direction that is dramatically backwards on financial stability,’ said Lisa Donner, executive director of Americans for Financial Reform.’”

Policy Brief: Republicans’ Tax Plan is a Giveaway to Wall Street
April 13, 2017 – 11:13 am
Policy Brief: Republicans’ Tax Plan is a Giveaway to Wall Street

“Wall Street banks are already expert tax-dodgers. According to Institute on Taxation and Economic Policy data, nine of the largest and most profitable U.S. banks paid an average federal tax rate of only 18.6% between 2008 and 2015–far less than the statutory rate of 35%. …Tax plans from President Trump and House Republicans would only make it easier for Wall Street to rig the tax code and avoid paying their fair share.”

Joint Letter: AFR and 7 allies call for crackdown on another private equity tax dodge
May 11, 2016 – 8:19 am

“Unlawful monitoring fee deductions… have been claimed by the private equity industry on an annual basis for many years… Hundreds of millions, if not billions, of tax revenue is lost each and every year of enforcement delay because of the statute of limitations. We hope and expect the IRS to actively, vigorously, and expeditiously enforce current law with respect to ongoing monitoring fee arrangements.”