What America Could Buy With Offshore Tax Money

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The federal government forgoes billions of dollars in revenue each year due to corporate tax write-offs and loopholes enshrined in America’s tax code. The Government Accountability Office estimates that we lose out on $181 billion as a result. Some of our tax credits ostensibly serve a social good, such as the credit for low-income housing investment. But other parts of the corporate tax code encourage companies to hide their profits in offshore tax havens. The revenue lost through this loophole is $65 billion a year, according to the National Priorities Project. (Other estimates are much higher.)

Here are some of the ways we could be spending those lost dollars.

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(AP Photo/Tony Dejak)

(AP Photo/Andy Manis)

(AP Photo/Brett Coomer)

(AP Photo/Mary Altaffer)

(Photo: Chris Radburn/PA Wire)

(AP Photo)

All figures from the National Priorities Project.

John Light is a writer and journalist sometimes based in New York. He writes a lot about climate policy, both inside and outside of the US. He was a former associate digital producer for Moyers & Company. His work has been supported by grants from The Nation Institute Investigative Fund and the Alfred I. duPont-Columbia Awards, and has been included in ProPublica's #MuckReads collection. You can follow him on Twitter at @LightTweeting.
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