Last week, the CFPB released a report showing that the landmark PIRG-backed Credit CARD Act of 2009 is saving consumers billions of dollars by helping them avoid penalty fees and unfair interest rate increases.
Off-shore tax havens cost New Jersey $2.8 billion in lost tax revenue last year, enough to pay the salaries of every New Jersey firefighter, police officer, EMT and 911 dispatcher, according to a report issued this week by a public interest group.
While the debate over offshore tax loopholes generally takes a national focus, a consumer advocacy group is reporting that states lose nearly $40 billion a year in tax revenues to companies and wealthy people who shelter money abroad.
In 2011, states lost approximately $39.8 billion in tax revenues from corporations and wealthy individuals who sheltered money in foreign tax havens. Multinational corporations account for more than $26 billion of the lost tax revenue, and wealthy individuals account for the rest.
With states across the country facing dire fiscal crunches and lawmakers in Washington gearing up for more budget showdowns, U.S. PIRG Education Fund released a new study revealing that state budgets were hit collectively with $40 billion in lost revenue from offshore tax dodging last year.
The University’s chapter of the New Jersey Public Interest Research Group will promote three campaigns around campus this year that address political, social and environmental issues affecting people at a university, state and national level.
A broad coalition of civil rights and progressive groups kicked off a “Money Out/Voters In” campaign Thursday that features nationwide rallies to coincide with the presidential inauguration, Martin Luther King Jr. Day and the third anniversary of the Supreme Court’s Citizens United v. Federal Election Commission ruling.
Federal agencies are taking greater steps to prevent companies from claiming tax deductions on settlements reached with the government, though loopholes in the tax code persist, according to a new study by U.S. Public Interest Research Group.