Add comment on:New Report: Shrinking Corporate Tax Base is Wreaking Havoc on State Budgets
Center for Effective Government
WASHINGTON, March 27, 2014—A new report published today by Center for Effective Government and National People’s Action (see PDF) uncovers how the shrinking corporate tax base is driving critical budget shortfalls and service cuts at the state and federal level. The report outlines exactly how much revenue has been lost due to a precipitous decline in corporate income tax rates and an explosion of loopholes. The report shows that since the recession, corporate income tax revenues have shrunk considerably, despite soaring profits, leaving individuals to pick up the slack.
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