To The Editor:
Sens. Claire McCaskill and Roy Blunt recently announced that one of their priorities this year is solving funding shortfalls for road and bridge repairs in Missouri. This sounds like a great idea — we need to fund repairs for our crumbling bridges and roads.
But a closer look at how they would solve these funding shortfalls raises some alarm bells. They want to fund infrastructure repairs by giving tax breaks to large corporations.
Wait, what? Only in Washington would this make sense.
Tell your senators that we need to stop offshore tax dodgers, not give corporations a green light to keep stashing their profits overseas.
The bill that Sens. McCaskill and Blunt support would let corporate tax dodgers legally skip out on up to $105 billion in taxes if they buy the $50 billion worth of bonds needed for the infrastructure bank. This gimmick is unfair to the small business owners and taxpayers across the state who don’t have the luxury of Cayman Island tax shelters.
The reality is that we could pay for the road and bridge repairs by closing these loopholes instead of making them worse. Last year, MoPIRG Foundation published a report finding that offshore tax dodging costs Missouri $843 million annually, which would be more than enough to finance the Missouri House’s plans last session for highway and infrastructure repair — all without raising any taxes.
Join us in calling on Sens. McCaskill and Blunt not to support the Partnership to Build America Act.