Pledging
These are the original issues in this subcategory
- REPATRIATED CORPORATE PROFITS
- OFFSHORE BANKS
- OVERSEAS HEADQUARTERS
As of 2025, our national debt was record-breaking $38 trillion, accompanied by a fast-growing federal budget deficit. Still, almost one-quarter of our largest corporations pay absolutely no federal income taxes at a time when corporate profits are at all-time highs. Many have shipped jobs overseas while hiding profits in offshore bank accounts to avoid paying the taxes they owe. Studies show that in 2016, 73% of our Fortune 500 companies (366 of these 500 companies) used offshore tax havens to avoid paying their fair share of taxes. In 2024, between 18,000 and 42,000 corporate entities with billing addresses in the U.S. were registered at a single building in the Cayman Islands, some for decades.
A new tax avoidance scheme called corporate tax inversion has recently evolved from this “Bermuda Strategy.” This scheme involves our corporations merging with companies in countries with lower tax rates, mainly in Asia and Europe. While keeping their material operations here, these corporations then re-brand themselves as foreign companies in order to return foreign earnings to the U.S. without paying taxes. Critics say it is past time for Corporate America to stop dodging taxes and help pitch in during this time of fiscal crisis. They accuse these firms of enjoying the benefits of residing in the U.S. without equitably contributing to its welfare.
Proposed Legislation: Reintroduction of H.R.2976 - Stop Corporate Inversions Act of 2024
Prospective Sponsor: Rep. Richard Neal (MA)
A new tax avoidance scheme called corporate tax inversion has recently evolved from this “Bermuda Strategy.” This scheme involves our corporations merging with companies in countries with lower tax rates, mainly in Asia and Europe. While keeping their material operations here, these corporations then re-brand themselves as foreign companies in order to return foreign earnings to the U.S. without paying taxes. Critics say it is past time for Corporate America to stop dodging taxes and help pitch in during this time of fiscal crisis. They accuse these firms of enjoying the benefits of residing in the U.S. without equitably contributing to its welfare.
Proposed Legislation: Reintroduction of H.R.2976 - Stop Corporate Inversions Act of 2024
Prospective Sponsor: Rep. Richard Neal (MA)
- I oppose reforming current overseas headquarters policy and wish to donate resources to the campaign committee of Speaker Mike Johnson (LA).
- I support modifying the Internal Revenue Code to make it more difficult for U.S. corporations to relocate their tax residence overseas through corporate inversions by: 1.) Changing the rules that allow companies to invert for tax purposes, which typically involves a U.S. company merging with a smaller foreign company to become a new, foreign-based entity. 2.) Addressing loopholes that allow corporations to move their tax residence offshore while still maintaining significant operations in the U.S. 3.) Modifying the rules around corporate inversions to prevent companies from avoiding U.S. tax obligations through this method. And wish to donate resources to the campaign committee of Rep. Richard Neal (MA) and/or to an advocate group currently working with this issue.
- I support modifying the Internal Revenue Code to make it more difficult for U.S. corporations to relocate their tax residence overseas through corporate inversions by:
1.) Changing the rules that allow companies to invert for tax purposes, which typically involves a U.S. company merging with a smaller foreign company to become a new, foreign-based entity.
2.) Addressing loopholes that allow corporations to move their tax residence offshore while still maintaining significant operations in the U.S.
3.) Modifying the rules around corporate inversions to prevent companies from avoiding U.S. tax obligations through this method.
And wish to donate resources to the campaign committee of Rep. Richard Neal (MA) and/or to an advocate group currently working with this issue.
You May Pledge Your Support For This Issue With A Monetary
Donation And By Writing A Letter To Your Representatives
Donation And By Writing A Letter To Your Representatives
Please login to pledge
Pledge Period - Opening Date
February 2, 2026 @00:01 Universal Coordinated Time (UTC)
Pledge Period - Closing Date
February 8, 2026 @23:59 Universal Coordinated Time (UTC)
Trustee Election - Begins
February 9, 2026