Lobby group for lower corporate taxes ends operations
WASHINGTON (Reuters) - The corporate tax lobbying group WIN America has canceled its business with outside firms effectively ending its advocacy work, according to Senate disclosure documents.
Bloomberg News reported on Monday that the corporate lobbying coalition has ceased operations.
The group was fighting for legislation that would allow companies to bring foreign profits into the U.S. at a low tax rate. Under current law, businesses face up to a 35 percent tax when repatriating foreign profits.
WIN America's members include multinational companies as well as Washington's largest business lobbying group, the U.S. Chamber of Commerce.
A spokesperson for the group could not be immediately reached on Monday night.
The group terminated lobbying work with its three outside firms in the first quarter, according to documents filed last week and today. WIN America spent $650,000 in lobbying expenditures in 2011.
(Reporting By Patrick Temple-West; Editing by Eric Walsh; For more Reuters tax and accounting coverage please go to blogs.reuters.com/taxbreak/)
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