News Releases

News Release | Arizona PIRG Education Fund | Tax

Bank of America settlement loophole creates at least $4 billion burden for taxpayers

Taxpayers will shoulder anywhere from $4 to $5.8 billion of today’s $16.65 billion Bank of America settlement with the U.S. Justice Department. The settlement, which releases the bank from charges of alleged illegal activity related to mortgage activities, specifically refuses to stop Bank of America from writing the settlement off as a tax break — which means much of the settlement cost will ultimately be shouldered by U.S. taxpayers.

News Release | Arizona PIRG Education Fund | Transportation

New Report Documents Transportation Trends in Arizona:

According to new research, Arizona is experiencing a shift in how people travel. Bikes, Trains and Less Driving, a report by the Arizona PIRG Education Fund and St. Luke’s Health Initiatives, found that between 2005-2012 Arizona saw a 10.5 percent decline in annual vehicle miles traveled per capita and Arizonans increasingly look to public transportation to get around.

News Release | Arizona PIRG Education Fund | Tax

Study: 70% of Fortune 500 Companies Used Tax Havens in 2013

Tax loopholes encouraged more than 70 percent of Fortune 500 companies – including Avnet and Insight Enterprises in Arizona  – to maintain subsidiaries in offshore tax havens as of 2013, according to “Offshore Shell Games,” released today by the Arizona PIRG Education Fund and Citizens For Tax Justice. Collectively, the companies reported booking nearly $2 trillion offshore for tax purposes, with just 30 companies accounting for 62 percent of the total, or $1.2 trillion.

News Release | Arizona PIRG Education Fund | Health Care

College Grads: Is it Time for You to Review Your Health Coverage Options?

As the Class of 2014 graduates from Arizona colleges this month, many new degree-holders will take time to look for work in their chosen field, consider pursuing a higher degree or ponder their next move. Whichever path they choose, one of those important steps should include evaluating whether they will experience any gaps in health coverage during this time period.

News Release | Arizona PIRG Education Fund | Tax

Poll: Public Wants Federal Agencies to Disclose and Restrict Corporate Tax Write Offs for Out-of-Court Settlements

In recent years, public outrage has built as federal agencies have allowed out-of-court settlements for corporate wrongdoing — like BP’s gulf oil spill and JPMorgan’s toxic mortgages — to be written off for multibillion-dollar tax breaks. A new poll confirms what has long been apparent: The public overwhelmingly disapproves of these write offs, and has a strong preference for federal agencies to be both more transparent and more restrictive of tax deductions for future settlements.

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