American Prospect: Republicans Want to Make Corporate Tax Avoidance Easier

According to a recent report by the Institute on Taxation and Economic Policy and the U.S. PIRG Education Fund, 73 percent of Fortune 500 companies have subsidiaries in a low-tax country. All told, American corporations have steered more than $2.6 trillion in earnings into offshore tax havens.

The specter of corporate profit-shifting has become more pronounced in recent years. The scale of revenue loss to the United States federal government has increased five-fold over the last decade, and now costs an estimated $100 billion in annual tax revenue. In short, the way that the United States deals with international taxation is in desperate need of an overhaul. Read more