Apr 14, 2014
Last week, the Senate Finance Committee passed a bill to extend more than 50 tax breaks for two more years, through Dec. 31, 2015. These tax breaks help huge corporations like General Electric and Caterpillar to defer their global income. In plain words, these corporations will continue to evade paying any taxes for overseas operations if this bill is approved. Taxes on commercial buildings would also be reduced. These tax breaks amounted to 86 billion dollars a year in the past.
That’s why government employees have been continuously laid off and services to the public have been drastically cut. The federal government and Congress have made it their task to hand over tax money to the rich – making workers foot the bill.