Stop Corporate Offshoring

What this bill would do:

• Closes a widely abused tax loophole that enables corporate profit offshoring and tax evasion

Why we need it:

Bay Staters are often left facing the brunt of tax burdens that they did not contribute to. For example, Bostonians are currently facing a $1 billion tax burden thanks to skyrocketing property costs that were created by vacant commercial properties post-Covid-19. Like Mayor Wu’s plan to shift the tax burden onto the wealthy commercial property investors and developers who created the problem, the closing of the Corporate Loophole would protect Bay Staters and create a new means of gaining revenue for the state.