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Report | WISPIRG Foundation | Budget

Offshore Shell Games 2014

Many large U.S.-based multinational corporations avoid paying U.S. taxes by using accounting tricks to make profits made in America appear to be generated in offshore tax havens – countries with minimal or no taxes. By booking profits to subsidiaries registered in tax havens, multinational corporations are able to avoid an estimated $90 billion in federal income taxes each year. These subsidiaries are often shell companies with few, if any employees, and which engage in little to no real business activity.  

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News Release | WISPIRG Foundation | Budget

Study: 70% of Fortune 500 Companies Used Tax Havens in 2013

Tax loopholes encouraged more than 70 percent of Fortune 500 companies – including Johnson Controls here in Wisconsin – to maintain subsidiaries in offshore tax havens as of 2013, according to “Offshore Shell Games,” released today by WISPIRG Foundation and Citizens for Tax Justice. Collectively, the companies reported booking nearly $2 trillion offshore for tax purposes, with just 30 companies accounting for 62 percent of the total, or $1.2 trillion.

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Report | WISPIRG Foundation | Transportation

Driving Wisconsin's "Brain Drain"

To better understand how the availability of non-driving modes of transportation can retain and recruit young talent for Wisconsin, the WISPIRG Foundation surveyed 530 college students across Wisconsin.  While the survey was not conducted with a scientifically selected sample, the results of our survey nonetheless illustrate that the Millennial generation is seeking a different transportation future than the spending priorities of state leaders. It underscores that transportation options may be a factor in decisions about where Millennials decide to locate in the future.

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News Release | WISPIRG Foundation | Transportation

New Survey: Wisconsin Brain Drain Partly Because Youth Seek Alternatives to Driving?

For the last decade, Wisconsin has been experiencing a “brain drain,” with more college graduates leaving the state than staying. One factor could be our crumbling transit infrastructure and lack of driving alternatives, according to a new WISPIRG Foundation report.  The new survey revealed that most Wisconsin college students want the ability to get around without a car, and many may leave Wisconsin without that option. This demand starkly contrasts with Wisconsin transportation policies, which often favor extravagant highway expansion projects over critical transit upgrades.

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Report | WISPIRG | Tax

The Tax Haven Tradeoff

Wisconsin could recoup an estimated $28.8 million annually from offshore tax havens by passing a simple, proven reform already on the books in other states.  The so-called “water’s edge” loophole allows multinational companies to use foreign subsidiaries to make it appear as if income earned in the United States was instead earned in offshore tax havens like the Cayman Islands that charge no taxes and have traditionally failed to disclose information to U.S. tax authorities.

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News Release | WISPIRG Foundation | Budget

Study: 70% of Fortune 500 Companies Used Tax Havens in 2013

Tax loopholes encouraged more than 70 percent of Fortune 500 companies – including Johnson Controls here in Wisconsin – to maintain subsidiaries in offshore tax havens as of 2013, according to “Offshore Shell Games,” released today by WISPIRG Foundation and Citizens for Tax Justice. Collectively, the companies reported booking nearly $2 trillion offshore for tax purposes, with just 30 companies accounting for 62 percent of the total, or $1.2 trillion.

> Keep Reading
News Release | WISPIRG Foundation | Transportation

New Survey: Wisconsin Brain Drain Partly Because Youth Seek Alternatives to Driving?

For the last decade, Wisconsin has been experiencing a “brain drain,” with more college graduates leaving the state than staying. One factor could be our crumbling transit infrastructure and lack of driving alternatives, according to a new WISPIRG Foundation report.  The new survey revealed that most Wisconsin college students want the ability to get around without a car, and many may leave Wisconsin without that option. This demand starkly contrasts with Wisconsin transportation policies, which often favor extravagant highway expansion projects over critical transit upgrades.

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News Release | WISPIRG | Tax

New Report: Offshore Tax Dodging Hurts Wisconsin Taxpayers, Businesses

A new report by WISPIRG estimates the fiscal impact of closing one loophole in the state tax code on Wisconsin taxpayers and the services they depend on, including education, public safety, and transportation. The report, The Tax Haven Tradeoff: How Offshore Tax Haven Abuse Hurts Wisconsin Taxpayers and Businesses, found that closing the “water’s edge” loophole would save Wisconsin taxpayers $28.8 million annually. 

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News Release | WISPIRG | Tax

Offshore Tax Havens Cost Average Wisconsin Taxpayer $1054 a Year, Wisconsin Small Business $3966

A new study released by WISPIRG revealed that the average Wisconsin taxpayer in 2013 would have to shoulder an extra $1,054 in taxes to make up for the revenue lost due to the use of offshore tax havens by corporations and wealthy individuals. 

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News Release | WISPIRG Foundation | Budget

New Report: Wisconsin Receives "A-" in Annual Report on Transparency of Government Spending

Wisconsin received a “A-“ when it comes to government spending transparency, according to “Following the Money 2014: How the 50 States Rate in Providing Online Access to Government Spending Data,” the fifth annual report of its kind by the WISPIRG Foundation. 

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Victory: CFPB Director Confirmed

On July 16, 2013, the U.S. Senate confirmed Richard Cordray as the director of the Consumer Financial Protection Bureau, giving the bureau its full authority to protect consumers in the financial marketplace and to oversee payday lenders, mortgage companies, private student lenders and credit bureaus. 

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WISPIRG Blocks Predatory Rent-To-Own Bill

In May 2013, WISPIRG helped defeat a provision that would have given special treatment to the predatory rent-to-own industry, which charges astronomical annual interest rates to rent used or older model products. WISPIRG joined with State Sen. Glenn Grothman, the Wisconsin Catholic Conference, and numerous faith and civic leaders to oppose a special interest exemption that would have eliminated the requirement that rent-to-own businesses disclose an APR.
 

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One Year Anniversary of CFPB

 

 

 

For the first time, a federal financial agency has placed consumers at the center of its work. That agency, the Consumer Financial Protection Bureau (CFPB), turns one year old on July 21, 2012. The CFPB, established as a centerpiece of the Wall Street Reform and Consumer Protection Act of 2010, is the first federal financial agency with only one job: protecting consumers. It has special responsibilities to protect seniors, military servicemembers and students. The CFPB is also tasked with ensuring fair lending and promoting financial education and literacy. The CFPB protects you no matter where you buy financial products—at a bank, at a credit union, at a mortgage company or a payday lender.

 

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Keeping Kids’ School Lunches Safe

For years, Wisconsin’s schoolchildren ate substandard chicken and beef—of such poor quality that fast-food chains wouldn’t even serve it. WISPIRG stood up for kids, and the USDA set stronger standards for school lunches.

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Result | Budget

Making Government More Transparent

WISPIRG advocacy led to the creation of a state website giving Wisconsin taxpayers easily accessible information about state expenditures, providing taxpayers with easily searchable, checkbook-level detail of state expenditures and detailed information about all state contracts.

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Report | WISPIRG Foundation | Budget

Offshore Shell Games 2014

Many large U.S.-based multinational corporations avoid paying U.S. taxes by using accounting tricks to make profits made in America appear to be generated in offshore tax havens – countries with minimal or no taxes. By booking profits to subsidiaries registered in tax havens, multinational corporations are able to avoid an estimated $90 billion in federal income taxes each year. These subsidiaries are often shell companies with few, if any employees, and which engage in little to no real business activity.  

> Keep Reading
Report | WISPIRG Foundation | Transportation

Driving Wisconsin's "Brain Drain"

To better understand how the availability of non-driving modes of transportation can retain and recruit young talent for Wisconsin, the WISPIRG Foundation surveyed 530 college students across Wisconsin.  While the survey was not conducted with a scientifically selected sample, the results of our survey nonetheless illustrate that the Millennial generation is seeking a different transportation future than the spending priorities of state leaders. It underscores that transportation options may be a factor in decisions about where Millennials decide to locate in the future.

> Keep Reading
Report | WISPIRG | Tax

The Tax Haven Tradeoff

Wisconsin could recoup an estimated $28.8 million annually from offshore tax havens by passing a simple, proven reform already on the books in other states.  The so-called “water’s edge” loophole allows multinational companies to use foreign subsidiaries to make it appear as if income earned in the United States was instead earned in offshore tax havens like the Cayman Islands that charge no taxes and have traditionally failed to disclose information to U.S. tax authorities.

> Keep Reading
Report | WISPIRG Foundation | Budget

Following the Money 2014

This report, U.S. PIRG Education Fund’s fifth annual evaluation of state transparency websites, finds that states are making progress toward comprehensive, one-stop, one-click transparency and accountability for state government spending. Over the past year, new states have opened the books on public spending and several states have adopted new practices to further expand citizens’ access to critical spending information. Many states, however, still have a long way to go to provide taxpayers with the information they need to ensure that government is spending their money effectively.

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Blog Post | Transportation

Support SB259 - Supporting Better Transit in Wisconsin | Bruce Speight

Testimony by WISPIRG's Bruce Speight in support of SB259, which would allow the Fox Valley to create a Regional Transit Authority (RTA). Municipal leaders across Wisconsin are eagerly seeking better transit in their communities for its economic development benefits, to appeal to a new generation that is less focused on driving, and to connect workers to jobs.  Efficient public transportation systems would make Wisconsin’s transportation future better for everyone by reducing traffic congestion and pollution and increasing our options for getting around.

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Blog Post | Democracy

Oppose AB225 - More Big Money in WI Elections Bill | Bruce Speight

Testimony by WISPIRG's Bruce Speight regarding AB225, a bill that, if passed, would double campaign contribution limits in WIsconsin.  Political power in Wisconsin and across the country is already concentrated in the hands of an elite fraction of the population.  Increasing contribution limits will give an even bigger megaphone to this miniscule fraction of people who can write the biggest checks. 

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Blog Post | Financial Reform

CFPB Gets Results for Consumers, Slams Chase for Deceptive Card Add-ons | Ed Mierzwinski

 On September 19, 2013, the CFPB announced it had imposed a $20 million civil penalty on JP Morgan Chase and ordered it to refund $309 million to over 2 million consumers for deceptively marketing junky credit card add-on products, some of which consumers didn't even receive. (The Office of the Comptroller of the Currency (OCC), Chase's previous consumer regulator, also added a $60 million penalty.)

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Blog Post | Democracy

Wisconsin Bill Would Double Campaign Contribution Limits, Increase Big Money in Politics | Bruce Speight

On June 10, the Wisconsin General Assembly passed a bill that, if passed by the Senate, would double the contribution limits to Wisconsin political campaigns and allow big money to further drown out the voices of Wisconsin voters. The bill also contains a provision to implement an online registration system — a great idea, but not enough to make this big-money bill worth passing.
 

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Blog Post | Democracy

IRS Scandal Highlights Need for Increased Transparency in Campaign Financing | Bruce Speight

The public has long agreed that transparency in campaign spending is critical to the integrity of our democracy. The Supreme Court acknowledged this common-sense proposition in its notorious 2010 Citizens United decision: even as they opened the door for dark money to enter our elections by allowing all corporations, including nonprofits, to spend directly on elections, the majority of Justices reaffirmed the long-standing notion that the identity of campaign donors must be disclosed.
 

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