The Washington Times: U.S. companies given Export-Import Bank subsidies keep profits offshore, skirt taxes
media mention“Matt Gardner, the executive director of the Institute on Taxation and Economic Policy, said companies that are both benefiting from federally backed loans and who are keeping some of their profits offshore are shortchanging U.S. taxpayers.
“It’s pretty ludicrous that the federal government would subsidize any company engaging in this kind of tax avoidance,” he said. “But it’s not surprising, because the way the federal government and Congress spend money and conduct the tax system are basically disconnected. They don’t talk to each other.””
Matt Gardner, the executive director of the Institute on Taxation and Economic Policy, said companies that are both benefiting from federally backed loans and who are keeping some of their profits offshore are shortchanging U.S. taxpayers.
“It’s pretty ludicrous that the federal government would subsidize any company engaging in this kind of tax avoidance,” he said. “But it’s not surprising, because the way the federal government and Congress spend money and conduct the tax system are basically disconnected. They don’t talk to each other.”Matt Gardner, the executive director of the Institute on Taxation and Economic Policy, said companies that are both benefiting from federally backed loans and who are keeping some of their profits offshore are shortchanging U.S. taxpayers.
“It’s pretty ludicrous that the federal government would subsidize any company engaging in this kind of tax avoidance,” he said. “But it’s not surprising, because the way the federal government and Congress spend money and conduct the tax system are basically disconnected. They don’t talk to each other.”