The Reverse Morris Trust (RMT) tax-loophole is a Wall Street scheme most recently utilized by Verizon in sales to Fair Point and Frontier, that allows big businesses to avoid paying taxes on the sale of company assets. These company assets are usually more unprofitable ventures that are dumped on to smaller and struggling companies which are loaded up with debt from this transaction. In turn those companies find themselves having to slash employee costs through layoffs or drastic wage and benefit cuts.
CWA is fighting for Congress to hear the voice of workers in corporate transactions and to remember that many Wall Street created tax loopholes are not beneficial to employees, communities or consumers., We are holding them accountable asking them to stop talking and take decisive action like closing the RMT tax-loophole.
Please help us move forward and take action on this simple cause. We can save jobs while showing corporate big cats and Wall Street schemers that we will hold them accountable.