Citizens Call on Congress to Avoid "Sequester"

FOR IMMEDIATE RELEASE: March 1, 2013

Contact:  Caitlin Murray, caitlin@fairshareonline.org, 703.447.7913

Citizens Call on Congress to Avoid “Sequester,” Make Corporations Pay Their Fair Share

Aurora – Friday March 1st marked the deadline for Congress to reach a budget deal and avoid a series of drastic cuts, known collectively as the "sequester."  In anticipation of that deadline, local leaders and activists, organized by Colorado Fair Share, spent the week calling on Representative Coffman to stop the sequester by closing corporate tax loopholes and ending subsidies for oil and drug companies.  Over 700 petition signatures from local residents were delivered to Rep. Coffman this Thursday.

“Hundreds of citizens and dozens of local leaders have come together in the past few weeks to make one thing clear: we should close corporate tax loopholes, not make cuts that will lay-off teachers, police and firefighters,” said Caitlin Murray, an organizer with Colorado Fair Share.  “The sequester will lead to massive automatic cuts to education and other public services, and cause job loss locally and across the country. We can avoid this if we make sure that corporations pay their fair share.  Time is running out and Rep. Coffman needs to act now.”

Large tax loopholes for corporations are costing both federal and state governments billions of dollars.  Recent research shows that the federal government loses around $90 billion annually -- and state governments about $40 billion -- to foreign tax havens that allow corporations to hide their profits abroad without taxation.  In comparison, the “sequester” would cut $83 billion from the federal budget.

“Congress has an opportunity to stop budget cuts that will devastate our communities, and have money left over to reduce the deficit and invest in the middle class,” said Snow Shaefer, local citizen whose benefits are being threatened.  “But instead they refuse to make their corporate buddies and campaign contributors pay the taxes they owe this country.  It’s a shame that some members of Congress are willing to sell out hardworking Americans in order to give corporations a handout.”

The impacts of the sequester are raising concerns from economists and local leaders alike, including:

• 1 million jobs lost;
• 70,000 children dropped from Head Start;
• 10,000 teaching jobs at risk; and
• Small business loans reduced by $540 million.

“The hundreds of citizens and local leaders that have joined our campaign are putting Rep. Coffman on notice: stop giving corporations a free ride while the rest of us pay the fare.  By closing massive corporate tax loopholes, Rep. Coffman can deliver a stronger economy and a stronger budget in 2013 without sacrificing the middle class,” said Caitlin Murray.

Colorado Fair Share is a statewide, grassroots field and advocacy group, working to provide every Coloradan with a fair shot, make sure everyone pays their fair share, and that everybody plays by the same set of rules.  Find out more at www.coloradofairshare.org