VIDEO: Flake to Release “Tax Rackets” Report Next Week
Flake’s seventh oversight report highlights outlandish tax loopholes that could cost as much as $50 billion
Posted on Mar 30 2017
Washington, D.C. – U.S. Sen. Jeff Flake (R-Ariz.) today released a video announcing the upcoming publication of his latest oversight report, Tax Rackets: Outlandish Loopholes to Lower Tax Liabilities. The report, Flake’s seventh since 2014, singles out a series of egregious tax loopholes benefiting a select few that could cost an estimated $50 billion over the next decade.
As Tax Day approaches and Congress considers long-overdue tax reforms, the report is intended to highlight loopholes that create fake markets for unnecessary or unwanted goods and services; encourage more borrowing, spending, and taxing by local governments; and shift the tax burden to the middle class.
Tax Rackets: Outlandish Loopholes to Lower Tax Liabilities will be available at flake.senate.gov on Wednesday, April 5.
The video can be viewed here.
- Flake has already released six oversight reports highlighting wasteful and egregious federal spending, including:
- Wastebook: PORKémon Go (2017) – identified 50 examples of outrageous and wasteful federal spending amounting to more than $5 billion.
- Twenty Questions: Government Studies That Will Leave You Scratching Your Head (2016) – identified 20 hard-to-justify, taxpayer-funded studies that diverted more than $35 million that Flake argued would have been better spent researching treatments for cancer, Alzheimer’s disease, and viral infections such as Zika and Ebola.
- Wastebook: The Farce Awakens (2015) – identified 100 examples of wasteful federal spending amounting to more than $100 billion.
- Tackling Paid Patriotism (2015) – joint report with U.S. Sen. John McCain (R-Ariz.) that identified $6.8 million paid by the Pentagon to professional sports teams to honor American soldiers at sporting events. The report resulted in taxpayers recouping nearly $850,000 for improper payments.
- Jurassic Pork (2015) – highlighted the continued cost of pork projects in the post-earmark-ban era.
- Science of Splurging (2014) – identified millions of dollars in wasteful and egregious spending by the Environmental Protection Agency.
- Flake also previously published PorkChops, a series highlighting wasteful and egregious federal spending, and the Egregious Earmark of the Week, an 8-year-series that contributed to the successful effort to ban congressional earmarks.
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