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Letter from Congressman Frank Pallone to NJPIRG, announcing that he will become a cosponsor of H.R. 2669, the Stop Tax Haven Abuse Act. This bill will close a tax loophole that costs the American public more than $100 billion every single year. For more on NJPIRG's work on fair tax policy, see our tax issue page here: http://njpirg.org/topics/tax
New Jersey Public Interest Research Group (NJ PIRG)
143 East State St., Suite 6
Trenton, NJ 08608
I am writing to commend your entire organization on the great work you do to protect the people of New Jersey. Fighting for a fair tax system has been very important to me throughout my time in Congress and your new report will help in this cause. Protecting the middle class is of paramount importance, especially during these tough economic times.
Your new report details the burden being placed on middle class business owners and consumers in great detail. My Democratic colleagues and I have strived to protect members of the middle class by shutting down tax loopholes that companies use to avoid paying their fair share. I applaud the efforts of groups like yours to call for fairness in the tax system.
The Stop Tax Haven Abuse Act of 201 1, H.R. 2669, would target the approximately $100 billion in lost revenue that arises each year from companies using loopholes in the tax system. This legislation would close many of the loopholes that certain companies currently abuse for their own benefit. These are some of the reasons that I am happy to co-sponsor the legislation. It would be a significant step towards fairness in our tax system.
It has been a pleasure working with your organization to help make New Jersey a better place to live. Your work towards a tax system that’s fair for everyone is no exception. I look forward to continuing our work together. Thank you again for all your hard work.
FRANK PALLONE, JR. Member of Congress
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