News Archives » Resources
10th Anniversary of Archbishop Denis Hurley Noted in South Africa January 22nd, 2014
The 10th Anniversary of the death of Archbishop Denis Hurley will be marked by a series of events focused on peacemaking and reconciliation arranged by organizations closely linked with the Archbishop. Learn more here…
The Denis Hurley Centre, currently under construction next to Emmanuel Cathedral in Durban, has been designed as a multi-purpose community facility to promote “extensive outreach and training for the homeless, unemployed and refugees…” It will also “provide primary health care, as well as community building programmes in one of the most diverse and challenging neighborhoods of downtown Durban.” Learn more about the center at: www.denishurleycentre.org
FACT Coalition Calls on Congress to Eliminate Corporate Tax Loopholes January 21st, 2014
The Missionary Oblates recently joined other organizations working through the Financial Accountability and Corporate Transparency (FACT) Coalition in asking Congress to eliminate corporate tax loopholes. The coalition is concerned about corporations shifting jobs overseas, and corporate avoidance of US taxes. The letter calls on Congress to “refuse to extend two recently expired tax breaks that subsidize highly profitable corporations at the expense of ordinary Americans.”
These tax breaks perversely encourage “American corporations to lend, invest and create jobs in foreign countries rather than in the U.S.” The ‘active financing exception’ called out in the letter is one of the primary reasons General Electric has paid, on average, only a 1.8% effective U.S. federal income tax rate over the past ten years. This exception was removed in the tax reform of 1986, but reinstated after fierce corporate lobbying. It has been extended consistently since 1998. “The last two-year extension of the active financing exception was estimated by the Joint Committee on Taxation to have cost taxpayers $11.2 billion.”
A second exception, called the CFC-look through rule, was also targeted in the letter. The groups signing the letter said, “The last two-year extension of the CFC look-through rule was estimated by the Joint Committee on Taxation to have cost taxpayers $1.5 billion.”
As people continue to struggle to find decent work, the outrage over multinational corporations essentially gaming the system is understandable. We hope this outrage will compel Congress to stand up for ordinary taxpayers and stop giving these corporations a free pass.
Read the letter (Download PDF)
Financial Reform Advocates Call on the Senate to Close Expensive Tax Loopholes January 16th, 2014
The Oblate JPIC Office joined others in the FACT Coalition in signing a letter sent this morning to Chair of the Senate Finance Committee, Max Baucus, on proposed international tax reform. The group said a proposal before the Committee “rightly identifies the need to stop corporations from shifting profits to offshore tax havens to avoid taxes. Unfortunately, the proposal falls short in three critical ways and leaves room for the offshoring of jobs and profits to continue:”
1. “It does not sufficiently end incentives for multinational corporations to shift profits offshore, which costs taxpayers an estimated $90 billion per year and creates an uneven playing field for small and domestic businesses.”
2. “It is revenue neutral, earmarking all the revenue raised from closing loopholes for reductions in the corporate tax rate. With federal revenue from corporations hovering at multigenerational lows, precisely because of the offshore profit shifting incentives, this is unacceptable.”
3. “It should hold corporations accountable to report their profits and revenues in a consistent manner to government, shareholders and the public.”
In arguing for doing away with lucrative corporate tax loopholes, the reform-minded groups argue that “Corporations benefit from the operation of government just as individuals do (and more so in some cases due to myriad tax benefits and lucrative contracts) and should be expected to contribute to financing our democracy, public services and rule of law. However the corporate share of federal revenue was just eight percent in 2011, having declined by more than 60 percent in the last 50 years.”
“Due to huge loopholes and other factors, dozens of big corporations pay no federal income taxes, while reaping billions of dollars in profits. According to the Government Accountability Office, corporations pay just a 12.6 percent effective tax rate, far below the statutory rate of 35%.”
Learn more, read the letter to Senate Finance Committee Chair Max Baucus (Download PDF)
Death Penalty Resources for Communities of Faith January 16th, 2014
At the start of the New Year, we would like to remind everyone of the excellent free educational resources on the death penalty available from the Catholic Mobilizing Network to End the Use of the Death Penalty (CMN). The ready-for-use resources on the death penalty are helpful for anyone interested in learning more about the faith response to the death penalty.
CMN materials are available on the website and are downloadable. Many of these resources are also available in Spanish.
Learn more about the Catholic Mobilizing Network to End the Use of the Death Penalty:
The Catholic Mobilizing Network to End the Use of the Death Penalty (CMN) is a lay ministry of the institutional U.S. Catholic Church that educates Catholics to seek a faithful response to crime, with a focus on abolishing the death penalty in the U.S. and promoting restorative justice. CMN works as a national lay collaborative of the U.S. Conference of Catholic Bishops (USCCB) and state Catholic conferences. CMN has since developed partnerships with Catholic lay leaders, diocesan staff and secular organizations in the movement.
More information is available elsewhere on our website.
Understanding Fracking: Catholic News Service series January 6th, 2014
Dennis Sadowski, staff writer for Catholic News Service, has completed a series of articles on hydraulic fracking from a faith-based perspective. “It was a complicated issue to examine,” he informed Catholic Rural Life. Nevertheless, Sadowski provides a clear overview of this controversial energy source while blending in environmental justice teachings of the Church.
The Oblate JPIC Office has been engaging oil and gas companies on social and environmental issues related to fracking.
Thanks to National Catholic Rural Life for this information.
