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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
3:45pm
Thu Nov 3, 2016

Report: Racial, Class Inequality A 'Dual Penalty' On Black Workers' Wages

Wage growth among African-American workers has taken a double hit since 1979 due to the growing black-white wage gap and overall wage stagnation, according to a new paper from the Economic Policy Institute. 

The left-leaning think tank finds that median hourly wages for black workers "could be 87 percent higher in the absence of racial and class inequality."

Researchers examined the 1979 to 2015 time period, during which "overall median wages did not track productivity growth and racial wage gaps did not close, but instead widened."

"This kept wage growth for black workers much, much lower than it would have been otherwise," the report adds.

PI Original
by Ellyn Fortino
3:25pm
Mon Oct 31, 2016

Benefits Of Rooftop Solar Power Largely Exceed Net Metering Costs, Analysis Finds

A recent report from the Environment America Research & Policy Center finds that "solar power’s rewards are far greater than its costs."

PI Original
by Ellyn Fortino
2:34pm
Thu Oct 27, 2016

White House Encourages States To Ban Non-Compete Agreements, Illinois Attorney General Agrees

The Obama administration is urging states to ban unnecessary non-compete agreements that can hinder wage growth and labor market competition. Illinois Attorney General Lisa Madigan, who has been active in the push to limit improper non-competes, commended the White House's call to action.

Quick Hit
by Ellyn Fortino
12:11pm
Mon Oct 24, 2016

Government Report Sparks Debate Over U.S. Fuel Economy Standards

Automakers have a "wide range of cost-effective technologies" at their disposal to meet 2025 fuel economy and greenhouse gas standards for cars and light trucks.

But they may fall short of achieving the proposed fleet-wide fuel economy average of 54.5 miles per gallon (mpg) by 2025 because of increased demand for SUVs and pickups.

That assessment came from the U.S. Environmental Protection Agency, the National Highway Transportation Safety Administration and the California Air Resources Board in a recent report.

PI Original
by Ellyn Fortino
12:31pm
Thu Oct 20, 2016

Illinois Spending On K-12 Education Higher Than Pre-Recession Levels, Report Finds

Most states are spending less on K-12 education now than they did before the Great Recession. Illinois, however, is among the exceptions, according to a new report.

PI Original
by Ellyn Fortino
1:22pm
Wed Oct 19, 2016

Report: Criminal Justice System's Expansion Has Cost Illinois $83 Billion

Expansion of the U.S. criminal justice system over the past three decades has come with a hefty price tag: $3.4 trillion nationwide and $83 billion in Illinois, according to a new report. 

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