Senate Rejects Proposal to Close Tax Loopholes as Way to Pay for Infrastructure

Closing tax loopholes which let corporations and wealthy Americans shift jobs and profits overseas could save nearly $100 billion, according to the US Treasury

USA Today

Sen. Bernie Sanders proposed an amendment that would close tax loopholes allowing corporation and wealthy Americans to shift jobs and profits overseas. The U.S. Treasury claims nearly $100 billion is lost annually to offshore tax dodging. However, in a 52 to 45 vote, the Senate rejected the amendment proposal to the GOP fiscal 2016 budget. Sanders had proposed the amendment as a way to help pay for infrastructure repairs.

(more on the Senate's rejection of Sander's plan to fund infrastructure...)

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