Story URL: http://news.medill.northwestern.edu/washington/news.aspx?id=126067
Story Retrieval Date: 5/23/2013 5:35:54 PM CST
Meaghan M. Norman/MNS
WASHINGTON - President Barack Obama's controversial budget is being debated in Congress. One provision of the plan would cut down on the number of U.S. companies that hold tax-free offshore bank accounts.
Last year, nearly 100 billion dollars in tax revenue was "lost" so honest taxpayers were burdened with extra debt.
An organization called "Renew and Rebuild America Now" is lobbying to get rid of this loophole and force the renegade corporations to own up to their responsibilities.