Guest Editiorial: Keep Indiana’s Tax Dollars From Funding Foreign Tobacco Companies

Guest Editiorial: Keep Indiana’s tax dollars from funding foreign tobacco companies

by State Representative Beau Baird There’s a little known loophole in the American tax code that you could be forgiven for not knowing about. But the double duty drawback loophole affects taxpayers both in Indiana and across the country, as it sends billions of our hard-earned taxpayer dollars right into the coffers of foreign tobacco companies exploiting our system. The double duty drawback is a byproduct of changes made by Congress to our impo…

Small: Congress should end tax loophole for foreign businesses

Congress should end tax loophole for foreign businessesBy Jonathan SmallThe “double drawback” loophole is a technical policy within federal trade law that is not widely known, yet it has a surprising connection to Oklahoma. The repeal of this loophole was included in the version of the One Big, Beautiful Bill that passed the House, but is missing from the Senate version of the bill.That needs to change.Here’s how the loophole works.Read more »