Thursday, April 19, 2012

Corporations Spending The Most On Lobbying See Their Tax Rates Drop - Rebecca Leber

Two-thirds of the largest 200 U.S. corporations lobbied on at least one tax bill between 2007 and 2010, and here’s why: the majority of them ended up paying lower taxes in 2010.

The eight major corporations that spent the most on lobbying, for a total $540 million, all saw their tax rates decrease. According to a Sunlight Foundation report, the odds that those companies saw lower rates merely by chance is less than 1 in 100. The odds that six of those corporations paid seven percentage points less is even lower, at only 1 in 100,000.

Instead, the reduction was likely a result of their presence in Washington, lobbying for tax giveaways.

The full article is available here