New England News
6:43 am
Fri December 7, 2012

Consumer Group Urges End To Tax Havens To Avoid Fiscal Cliff

A Massachusetts consumer group is urging Congress to close offshore tax loopholes as a step toward avoiding the so-called  “fiscal cliff”   WAMC’s Paul Tuthill reports

A report from MassPIRG Thursday said off shore tax havens are being used by large corporations and wealthy individuals to avoid paying $150 billion dollars in taxes annually.. MassPIRG legislative director Dierdre Cummings said its enough to cover the automatic spending cuts that would trigger with the fiscal cliff

Cummings said there are bills in both the House and Senate to curtail the use of  offshore tax havens.  But she said , so far, neither of the two US Senators from Massachusetts have endorsed it.