Financial Reform

Testimony in favor of Combined Reporting Legislation

By | Phineas Baxandall
Senior Analyst for Tax and Budget Policy

In-state businesses are playing on an uneven field, competing against multi-state companies that use high-priced, sophisticated accountants and complex transactions with subsidiaries to avoid paying Massachusetts taxes. While currently legal, some multi-state businesses can shift their Massachusetts profits to out-of-state subsidiaries to avoid paying taxes here; while businesses located only in Massachusetts cannot take advantage of these loopholes or other tax shell games.

2006 Congressional Score Card

The 2006 Scorecard looks at the most important public interest votes taken between February 9, 2005 and February 1, 2006 in the U.S. Congress. These votes determined the direction of federal policy on critical issues ranging from environmental preservation to health care to consumer protections.

Who's Watching The Watchdogs?

Conflicts of interest and lack of independent funding have doomed both the national and state level accounting oversight systems in the United States. The state accounting boards and the network of overlapping, mostly self-regulatory federal accounting overseers act as classic regulators, serving management instead of serving investors and taxpayers.

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