Sen. Sanders Details Tax Plan to Close Loopholes
WASHINGTON, July 10 – Skeptical of a bid to overhaul the tax code by corporate-friendly congressional tax writers, Sen. Bernie Sanders (I-Vt.) today laid out his own specific proposals to raise revenue by closing loopholes that let multi-national corporations and oil companies avoid hundreds of billions of dollars in taxes.
Sen. Max Baucus, D-Mont., and Rep. Dave Camp, R-Mich., chairmen of the Senate Finance Committee and the House Ways and Means Committee, this summer launched a nationwide tour to hear what corporations want in a revamped tax code. Sanders said the tax code should be reformed to address the needs of the middle class and working families, reduce deficits and make profitable corporations and the wealthiest Americans pay their fair share.