General Electric got $3 billion in U.S. income tax refunds between 2008 and 2012.
You read that right: They paid LESS THAN ZERO in taxes. You probably paid more than they did!
These two loopholes reward big corporations like GE for shifting profits to offshore tax havens, where the U.S. can't tax them.
Sen. Wyden (D-OR) chairs the powerful Senate Finance Committee, which will vote tomorrow on whether to keep the GE loopholes or kill them.
If we can pull this off, it's a multi-billion dollar win.
Frank Clemente is the Executive Director of Americans for Tax Fairness.