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Quick Hit
by Ellyn Fortino
4:30pm
Fri Nov 4, 2016

U.S. Multinational Companies Owe $700 Billion In Taxes On Offshore Profits, New Research Shows

American multinational corporations are apparently dodging nearly $700 billion in U.S. taxes they owe on profits stockpiled offshore, according to a new "corporate tax chartbook" from Americans for Tax Fairness (ATF) and the Economic Policy Institute (EPI).

Last year, Fortune 500 companies had $2.4 trillion in untaxed offshore profits, on which they owe up to $695 billion in U.S. taxes, the analysis found.

"Corporations have not paid any U.S. taxes on these profits because our tax system lets them defer paying taxes until that income is brought back to the U.S. parent corporation (i.e., repatriated)," the report states.

This deferral process costs the U.S. Treasury roughly $126 billion annually or $1.3 trillion over a decade. 

Quick Hit
by Ellyn Fortino
4:56pm
Mon Sep 12, 2016

Report: Paid Sick Time Beneficial To Workers And Businesses

As paid sick leave laws continue to gain traction across the United States, a recent report finds such policies to be a win-win for workers and their employers.

For its report, the Institute for Women's Policy Research (IWPR) examined over a dozen scholarly and policy research articles covering the health, economic and social benefits of paid sick time.

"Seeing the research brought together, from a range of disciplines, makes a striking case for universal access to paid sick days as a low-cost strategy for improving health and economic well-being," IWPR Vice President and Executive Director Barbara Gault said in a statement.

The think tank's analysis came shortly Chicago passed legislation mandating earned paid sick time and as commissioners in Cook County are set to vote on similar policy on October 5. Chicago was the 34th jurisdiction in the United States to guarantee paid sick days.

PI Original
by Ellyn Fortino
12:28pm
Tue Sep 6, 2016

Report: Workforce Training Programs Save States, Cities More Money Than Corporate Subsidies

Workforce training is a cheaper, more cost-effective economic development option for states and cities than corporate "megadeals," a new report from Good Jobs First has found.

Quick Hit
by Ellyn Fortino
1:48pm
Thu Aug 11, 2016

Chicago Urban League Unveils 10-Year Blueprint For Dismantling Structural Racism

The Chicago Urban League released a 10-year blueprint Wednesday to undo structural racism in the city and create more equitable education, employment and economic development systems for African-American residents living in the most disadvantaged communities.

Chicago Urban League officials released the plan as the organization commemorates its 100th anniversary.

"Our vision is that by 2026, residents of every community area in Chicago will have access to the services and supports they need not just to succeed, but to really thrive as members of the greater Chicago community," said Stephanie Schmitz Bechteler, vice president and executive director of the Chicago Urban League's Research and Policy Center.

"The league's 10-year plan is a focused effort that lays out our commitment to making racial equity a reality. When this happens, it sets the stage for a stronger African-American community and that, in turn, makes a stronger Chicago."

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