Portland, Oregon – OSPIRG has released a new report showing more than 70 percent of Fortune 500 companies take advantage of tax loopholes to set up offshore tax havens.
OSPIRG’s Celeste Meiffren-Swango says Nike is one of the big offenders. She says Nike reports having $6.7 billion booked offshore which means the US government loses out on more than $2 billion in taxes. She says the money is held by subsidiaries in tax havens offshore.
It wants Congress to close tax loopholes that allow this to happen, She says they’ve met with most members of Oregon’s congressional delegation and they indicated general support. She says they did not meet with Congressman Greg Walden because his office never returned their calls requesting a meeting. Walden’s office says it has no record of a request for a meeting on this subject.
OSPIRG held its news conference outside Nike’s store at SW Fifth and Morrison.