Byron Dorgan: “today I'm joined by Senators Carl Levin of Michigan and Russell Feingold of Wisconsin in re-introducing legislation that…”

“today I'm joined by Senators Carl Levin of Michigan and Russell Feingold of Wisconsin in re-introducing legislation that we believe will help the Internal Revenue Service (IRS) combat offshore tax haven abuses and ensure that U.S. multinational companies pay the U.S. taxes that they rightfully owe. Every year, tens of millions of taxpayers work through piles of complicated IRS instructions and complex forms to prepare and file their tax returns to fulfill their taxpaying responsibility. Some tax experts have estimated that taxpayers spend over $100 billion and more than 6 billion hours trying to comply with their Federal tax obligation. That's why every American has a right to be angry when they hear repeated press accounts of corporate taxpayers that are shirking their tax obligations by actively shifting their profits to foreign tax havens or using other inappropriate tax avoidance techniques. The bill that we are re-introducing today is a simple and straightforward way to try to tackle the offshore tax haven problem.”