A $5 billion loss for New York

Click here for the full report from Crain’s about how the supercommittee failure to strike a deal could cost New York state about $5 billion in federal funds. Click here for the Albany Times-Union’s report. Click here for reaction from our representatives in D.C.

Interesting report from the National Education Association last week revealed that $222.7 billion in federal revenue was lost due to corporate tax loopholes between 2008 and 2010. $9.8 billion of that would have gone to our public schools and colleges, which meant nearly a half million children in poverty could have enrolled in preschool and saved approximately 127,000 education jobs.

Here’s a link to the list of the 280 most profitable U.S. corporations that shelter half their profits from taxes.

What can you do about it? Send a letter to the Governor to extend the millionaire’s tax. Send a letter to your state rep to extend the millionaire’s tax.

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