Tax Fairness Coalition Sees Poll Results on Corporate Inversions as a Sign that the Issue Will Be Hot this Election Season
Tuesday, August 5, 2014
WASHINGTON – Frank Clemente, Executive Director of Americans for Tax Fairness (ATF), released the following statement about a new poll released today on corporate inversions, the practice in which companies dissolve their U.S. corporate status and reincorporate in a low-tax country to avoid paying their fair share in federal taxes. The poll found that about half of likely voters are aware of the issue. Over two-thirds of likely voters disapprove of corporate inversions, including 86% of Democrats, 80% of Independents and 69% of Republicans.
“Politicians would be wise to pay close attention to these results because it’s likely that the corporate inversion issue will be a hot topic with voters this election season. And if Walgreens announces next week that it will go ahead with plans to desert America and become a Swiss company, this issue could burn even hotter. It’s time for our representatives to state clearly where they stand on corporate inversions and what they would do to stop them.”
ATF has been a strong critic of corporations that renounce their U.S. status to avoid paying their fair share in federal taxes. ATF released a report in May that found that Walgreens, which is considering an inversion, would save $4 billion over five years by becoming — on paper — a Swiss company.
The poll was conducted from July 25-27 with a national sample of 1,752 likely voters. The margin of error is plus or minus 2%.
Americans for Tax Fairness is a diverse coalition of 425 national and state organizations that collectively represent tens of millions of members. The organization was formed on the belief that the country needs comprehensive, progressive tax reform that results in greater revenue to meet our growing needs. ATF is playing a central role in Washington and in the states on federal tax-reform issues.