So much for "America first" finance.yahoo.com/news/bessent...

Are American taxpayers subsidizing ExxonMobil’s partnership with a Chinese state-owned oil company to produce oil in Guyana? @whitehouse.senate.gov @merkley.senate.gov @vanhollen.senate.gov raise important questions about the taxes that Exxon is or isn't paying in Guyana and the US.

ICYMI: FACT calls for US action to target the proceeds illegal gold mining, members of Congress call attention to the rollback anti-money laundering regulations, and more in the latest edition of Just the FACTs. thefactcoalition.org/fact-calls-f...

First they used the tax system against immigrants. And now they want to use it against groups with whom they disagree. These are unlawful and bad policies.

Why would some business interests prefer for Congress to fly blind in tax policymaking? 🤔 Very good take from @howardgleckman.bsky.social @taxpolicycenter.bsky.social:

I know it's frustrating when lawyers point out when something the administration is doing is not legal. But responding with "the law doesn't matter anymore" is really unhelpful and defeatist. Clarifying the law is important because it reminds us not to comply in advance and to resist and take action

"Big Oil scored major policy wins through expanded tax breaks and rollbacks of environmental regulations. Yet that hasn't translated to a healthy industry." 🎯@houstonchronicle.com ed-board calls out Big Oil's bad bet on Trump. Winning corporate tax breaks isn't doing much to help Texas workers.

"Funding tax enforcement should be a no-brainer" @sarahcgchris.bsky.social is absolutely right. And yet here we are...

US Chamber complains about tax transparency, which they frame as a trade barrier. Facts: Aggressive tax planning is a material risk. Investors have been demanding improved tax transparency for years, and it's coming whether some in corporate America like it or not. www.uschamber.com/taxes/u-s-ch...

This rollover for the criminals and kleptocrats who hide in U.S. shell corporations is a real national security problem.

Congressional appropriators are threatening to defund the nation's accounting standard-setter over new corporate tax reporting rules. These new rules responded to investor demands for better disclosures - they shouldn't be in the political firing line. itep.org/corporate-ta...

Huge corporations continue to funnel their profits to tax havens and shield their practices from public view. But instead of increasing transparency, some lawmakers in Congress want to dismantle a new reform that would help expose corporate tax dodgers. itep.org/corporate-ta...

The free speech activist who built a list of professors he worked to get fired for their speech must be celebrated for his support of free speech, and anyone who quotes his speech accurately in context will be fired and/or face state punishment by the champions of free speech, do I have that right?

NEW: Senator Warren and Congresswoman Waters slam U.S. Treasury for gutting the Corporate Transparency Act. “Your decision to gut the law has caused growing alarm ... that you are making it easier for criminals to take advantage of the financial system." ct.symplicity.com/t/wrn/d92e7b...

Standard economic models built on the assumption that power does not exist blinds us to the very real exercise of those powers

THE TRUMP ADMINISTRATION IS NOW STOPPING THE IRS FROM GOING AFTER CORPORATE TAX CHEATS. THIS ONE EFFORT WAS GOING TO RAISE $100 BILLION. $100 BILLION DOWN THE DRAIN SO BIG OIL BARONS AND THE GUYS IN THE EPSTEIN FILES CAN KEEP NOT PAYING TAXES LIKE THE REST OF US DO. SCAM.

UK would be foolish to cave to Trump’s demand to stop taxing US Big Tech. It’s a matter of revenues and principles and yes, just plain politics.

Welfare for an industry that makes hundreds of billions in profits and ravages the climate is civilizational self-harm. End it now. Gift link to my @opinion.bloomberg.com column about the new study from @collinrees.bsky.social & @oilchange.bsky.social www.bloomberg.com/opinion/arti...

"Each year, the Global South loses billions to profit shifting and the legal looting enabled by offshore financial secrecy. These are not policy accidents — they are features of a system designed to ensure capital accumulation in the North. Aid cannot compensate for this theft." 🎯

A new report from @oilchange.bsky.social estimates that the gov. hands a staggering $34.8B to the fossil fuel industry per year in subsidies, including $7+ billion per year in subsidies for O&G production abroad. These market-distorting subsidies should be repealed. oilchange.org/publications...

shot: WSJ "Oil Tycoons Bet Big on Trump. It’s Paying Off." chaser: FT "Big Oil slashes jobs and investments as low crude prices bite" (these headlines were approx. 24 hours apart)

Exciting international conference on tax and climate in Brazil next month! I will be speaking from a US perspective as part of a panel titled "Fossil Fuels, Subsidies and Sovereignty: Fiscal Tools at a Crossroads." If you can't attend in person, you can tune into the livestream.

The Supreme Court just handed Trump a permission slip to racially profile Latino communities. Apparently, looking Latino, speaking limited English, or working a low-wage job is now enough to lose your Fourth Amendment rights. This ruling is dangerous, discriminatory, and we must push back—loudly.

Ahh yes, those growth promoting investments: microcaptive insurance and basis shifting through complex partnerships

Imagine making a $1 billion drafting error. That's what the authors of the 2017 Trump tax cut did when they failed to coordinate the timing of 2 related corporate tax changes that were part of the tax law's move to a territorial corporate tax system. More here: itep.org/billion-doll...

"Working families tax plan"? Because I guess "big multinational corporations tax plan" isn't catchy enough?

Democracy is good for business, actually. Thank you @vanessawilliamson.bsky.social and @brookings.edu for that very important reminder.

Countries have started negotiating a new tax treaty The US? Not in the room Trump's unilateralism hurts ordinary people in the US and (no surprise) helps profitable corps & wealthy individuals who pay too little in tax My take from negotiations👇 politicsofpoverty.oxfamamerica.org/the-most-hop...

This is America Last in action: letting big corporations shift their profits to tax havens to avoid US tax

It's tough to tax individual wealth in the US but the corporate tax is doing the heavy lifting of taxing superrich investors (including foreign investors who would otherwise escape US taxation) Great WSJ coverage of important new paper from @gabrielzucman.bsky.social et al

28 countries - including China and several G7 members (Germany, France, Italy, UK) - have pushed back, in private OECD discussions, at the G7 tax "deal" to exempt US multinationals from the global minimum tax. It won't be easy, folks.

IRS-CI is “the agency that took down Al Capone.” 2,000+ agents investigate major tax evasion, identity theft, cartels, bribery, money laundering. Identified $9 billion in fraud in 2024. This? In addition to inestimable damage to our civic fabric, this resulted in 4 arrests for fare evasion. So, $9.

It's a real shame that the US government isn't more supportive of the popular #FreeFile program. They should consider how best to serve taxpayers, as I recently told Accounting Today. www.accountingtoday.com/news/irs-loo... Please tell the IRS you support free tax filing by 9/5 (link below)

Big beautiful bill is super swampy: Republican taxwriters raised millions in campaign cash, while showering their wealthy donors with millions in tax breaks.

It was such an honor, as well as a lot of fun, to be profiled by the incredible @taxgirl.bsky.social in @forbes.com. Thank you so much!

Trump’s 2017 Tax Scam opened the floodgates for Big Pharma to ship factories/profits to Ireland. Now, his Big Ugly Bill makes incentives more lucrative. There's a better way: Eliminate tariff taxes & end corporate tax incentives to outsource/offshore; my No Tax Breaks for Outsourcing Act does that.

Co-sign: "Tax experts and pharmaceutical executives have said that tariffs would be at best a blunt instrument for discouraging corporate activity in Ireland. Changing US tax rules could more directly address the incentives that are motivating drugmakers, they said." www.nytimes.com/2025/08/14/h...

Export taxes are a bad idea, and they're also unconstitutional. Here's a better idea: let's start by ending the huge tax subsidy for exports that was introduced in the 2017 tax reform and expanded this year in OBBBA. www.ft.com/content/1434...

Laws against money laundering and financing of terrorism are in place to protect us all. Enforcement shouldn't be optional, especially for the most brazen violations. Regardless of whether the criminals in question are enriching the president.

Commissars enter the stage

Dumb pet peeve: when people use "crime" as a short-hand for "violent crime," and completely ignore white-collar crime. I.e., folks claiming "crime is down"... even while we're currently living through the golden age of white-collar crime (so much of which will never be prosecuted).

Requiring Nvidia to pay a 15% "fee" to export to China is very obviously unconstitutional. And yet: the media coverage I've seen so far mentions the "export clause" exactly ZERO times. When will the media stop treating what Trump says as gospel?

What if… Billy Long is more law-abiding than the man who succeeded him (Scott Bessent)

👇 This right here. Most Americans have no idea what it’s like to live in a dictatorship so they now get to find out the hard way.

how it started (Jan 2025) how it's going: $57 billion tax windfall for Google, Facebook, Amazon, and Microsoft from Trump tax cuts 2.0

Yes to more tax lawyers turned crusaders :) @danneidle.bsky.social: "What a tax lawyer does is really about risk. When you’re acting for large corporations (excepting US Digital companies) they do not want to take the tax risk." That parenthetical🤌

Just last month, US Treasury imposed a record fine of $216m on a venture capital fund for sanctions violations, widely seen by lawyers as a warning shot to the fund industry. But yesterday US Treasury exempted the fund industry from anti-money laundering checks for at least two years.

Ipsos interviewed 26k EU citizens on taxation. Grain of salt etc. etc. but strong support everywhere for the global minimum tax: op.europa.eu/en/publicati...

ICYMI: Newly-reintroduced bicameral bill would cut $190B in tax loopholes and federal subsidies for the fossil fuel industry over a decade, including international tax breaks long opposed by FACT, as well as all new O&G handouts from the 2025 tax reform. www.citizen.org/news/new-bil...

ICYMI: -FACT reacts to Treasury's delayed implementation of a landmark AML rule, -The Art Market Integrity Act is introduced, and [email protected] and @thomasgeorges.bsky.social break down the international corporate provisions of the budget megabill. thefactcoalition.org/just-the-fac...