What can Congress do?
We’re monitoring federal action and reporting back on whether our elected officials are acting for or against the public interest.
Together we can make sure tax and budget decisions reflect our shared priorities and balance competing values.
We’re monitoring federal action and reporting back on whether our elected officials are acting for or against the public interest.
As Tax Day approaches, the CoPIRG Foundation released a new study highlighting that small businesses end up picking up the tab for offshore tax loopholes used by many large multinational corporations. The study revealed that the average Colorado small business owner would have to pay an extra $3,165 in taxes to make up for the money lost in 2014 due to offshore tax haven abuse by large multinational corporations. State Representatives Brittany Pettersen and Mike Foote and other advocates joined CoPIRG to highlight a new bill that aims to close a loophole in Colorado that costs the state millions.
Colorado took a big jump forward in the transparency of its government spending according to Following the Money 2014: How the States Rank on Providing Online Access to Government Spending Data, the fifth annual report of its kind by the CoPIRG Foundation. After receiving a “D+” in 2013 and placing in the bottom ten states, Colorado jumped to a “B” and placed in the top 20 by implementing improvements like making over 19,000 public subsidies totaling $500 million accessible online.
With Tax Day approaching, CoPIRG was joined today by Zach Hepner, owner of Velosoul Bikes and Marlene Nuechterlien owner of Caboodle Gifts to release a new study which revealed that the average Colorado taxpayer in 2012 would have to shoulder an extra $1,183 in taxes to make up for the revenue lost due to the use of offshore tax havens by corporations and wealthy individuals and the average small business would need to shoulder $2,957.
With Colorado’s state budget stretched thin, CoPIRG released a new study revealing that Colorado lost $504 million due to offshore tax dodging in 2012.