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U.S. Senator Sanders Introduces Corporate Tax Dodging Prevention Act

12 April 2024

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Proposed Changes

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United States

U.S. Senator Bernie Sanders (I-VT) has issued a release announcing the introduction of the Corporate Tax Dodging Prevention Act. The measures include the following as explained in a section-by-section summary of the Act. --- THE CORPORATE TAX DODGING PREVENTION ACT OF 2024 The Corporate Tax Dodging Prevention Act would stop corporations from sheltering profits in tax havens like the Cayman Islands and Luxembourg and would stop rewarding companies that ship jobs and factories overseas with tax breaks. According to an official estimate from the Joint Committee on Taxation from 2021, closing down corporate use of offshore tax havens would raise...