Sen. Levin Says Tackling Tax Haven Abuse is One Way to Reduce Deficit

The showdown over raising the debt ceiling has brought corporate tax havens into the spotlight, a time-honored practice for businesses but a costly drain on the U.S. Treasury. This week, Sen. Carl Levin, D-Mich., introduced the Stop Tax Haven Abuse Act which proposes that companies pay U.S. taxes if operations are managed domestically, regardless of whether they are incorporated in other countries. "Right now, wherever you are incorporated determines if you are a U.S. corporation," Levin...Full Story
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