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“Our solutions to the problem are polar opposites – we want corporations to pay the full existing tax rate while Heritage wants to permanently lower them,” Sarah Anderson, a co-author of the IPS report, said in a statement. “But we welcome their honest assessment that the proposed tax holiday will not create jobs.”

“Ten major U.S. corporations, including big banks Citigroup Inc (C.N) and Bank of America Corp (BAC.N), laid off workers after enjoying a tax holiday in 2004-2005 that had been billed as a form of economic stimulus, said a report released on Tuesday. With large multinational companies today pressing Congress for another tax holiday, the Institute for Policy Studies reported that the last one did not fulfill its rosy promises for hundreds of thousands of U.S. workers.”

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