On Thursday, The Greenlining Institute, a California-based research and advocacy group, released a report on all the corporate tax revenue the U.S. loses out on. “Are large corporations paying their fair share of taxes?” the report asks.
Corporate tax policy is a topic that is very much in the air: On Wednesday, the Senate Finance Committee heard testimony from four chief executives who said they’d give up tax deductions in exchange for a territorial tax system and lowering the 35 percent corporate tax rate, The Fiscal Times reports. The heads of Wal-Mart Stores, Kimberly-Clark, CVS Caremark, and PMC-Sierra said that “these changes would entice them to boost their U.S. payrolls and repatriate foreign-earned profits they currently have stashed abroad.”