Tuesday, March 3, 2015
Sen. Bernie Sanders (D-VT) on Friday sent this letter to President Obama calling on him to use unilateral executive action to raise over $100 billion in taxes by closing six "loopholes":
- The Check the Box Loophole
- The Hewlett-Packard Loophole
- The REIT Loophole
- The Corporate Inversion Loophole
- The Carried Interest Loophole
- The Valuation Discount Loophole
There are undoubtedly more loopholes that the Administration could close on its own. This list is not intended to be exhaustive but rather to illustrate that if Congress fails to act, the Administration can act to resolve some of the problems with our tax code.
White House Press Secretary Josh Earnest on Monday stated that President Obama is "very interested" in the idea of raising taxes through unilateral executive action.
Press and blogosphere coverage: