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As politicians in Washington continue to look for several trillion dollars to begin to offset the country’s debt, a public interest group says Congress might want to take a closer look at corporate tax havens. 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. Greenlining’s general counsel Samuel S. Kang and legal associate Tuan Ngo co-authored the report, “Corporate America Untaxed: Tax Avoidance on the Rise” (PDF). The report finds that U.S. Fortune 100 companies “avoided $60 billion in taxes by shuttling profits offshore.” 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.” “Corporate America Untaxed” finds that America’s top companies have added 44 new subsidiaries in tax haven countries since the Government Accountability Office examined the same issue in 2008. Greenlining’s report builds off the methodology used in the 2008 GAO study of the use of tax havens by large corporations and federal contractors. Other highlights from the Greenlining report include:

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