Farm and ranch families deserve a safety net, and fiscal responsibility demands that we pay for it. We pay for this farm bill, every penny of it, and some of it is done by stopping one group of multinational corporations from dodging their United States tax liability. For too long they have enjoyed a free ride from these Republicans, at the expense of other American taxpayers. It is wrong, and we are putting a stop to it. Our target is very narrow: No company headquartered in the United States of America will have its taxes go up one penny, nor will it have any significant impact on any foreign corporation with whom we have a tax treaty, as we do with most developed countries. Indeed, 90 percent of the revenue, according to the nonpartisan staff of the Joint Tax Committee, comes from companies that have tax hideaways with these countries down in the Caribbean that have no tax treaty and no corporate taxes or little taxes.
Editor's note · Context
Discussing the funding of the farm bill and addressing tax avoidance by multinational corporations.
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