Coalition Targets "First Billion" in NY Corporate Tax Loopholes
January 10, 2012
NEW YORK - The broad-based progressive coalition that rallied to keep New York's "millionaire's tax" in 2011 has a new target, saying it's going after corporate tax loopholes in 2012.
Ron Deutsch, executive director of New Yorkers for Fiscal Fairness, believes that well over a billion dollars in revenue could be generated this year alone, simply by closing loopholes that allow big corporations to dodge taxes.
"We want to make sure that we have enforcement of our current tax laws; that we create fairness in our existing tax system; and that it's transparent, that we know how much companies are, in fact, paying."
Governor Cuomo says he opposes raising taxes to close the state's $2 billion budget gap, although he has proposed a commission to study ways to increase business collections and close tax loopholes. http://www.publicnewsservice.org/index.php?/content/article/24203-1