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RELEASE: US Uncut Welcomes GE's Change of Heart

Posted on Wed Apr 13th 2011, 3:20pm UTC

US Uncut Welcomes Tax Dodger GE's Change of Heart, Warns one-time return of tax refund not enough - Congress must stop cuts, end tax loopholes

Washington, DC – GE CEO Jeffrey Immelt announced today that in response to public pressure, GE will return its $3.2 billion 2010 tax benefit. US Uncut, the main grassroots effort pressuring corporate tax cheats to pay their fair share, welcomed the move and claimed it as a victory.

"This is a good first step," said, US Uncut spokesman Carl Gibson. "But even if they return their full $3.2 billion 2010 tax benefit as they’re promising, they will still have paid $0 in US taxes since 2006, when they had profits of $26 billion. So while we welcome this gesture by GE, it is only a first step. GE should pay its share, and Congress needs to stop the budget cuts and close the tax loopholes that give the richest corporations a free ride.”

"This just shows the power of the growing backlash to corporate power in America,” said US Uncut spokesman Duncan Meisel. “In just a few short months, regular Americans have put the biggest companies in America on the defensive as a result of bold, direct action in our communities. The billions that GE is returning to the US Treasury will enable us to restore a few of the recent devastating cuts to health, education and infrastructure that so many of us count on. People across America who are hurting and angry will be pleased to read the papers for a change. We hope other corporate tax cheats, like Verizon, Bank of America, FedEx, and ExxonMobil follow GE's lead."

“We’re hoping this isn’t a publicity stunt,” said Gibson. “Promises just aren’t enough - we need to see results from GE and then from Congress. We’re still planning to continue with our actions this weekend. We won’t stop until the cuts stop.”

US Uncut, a grassroots movement organized through social media, connects corporate tax cheating to public service cuts. The group has led over 180 actions nationwide, bringing protests directly to corporate tax cheats’ front door. US Uncut will hold more than 80 events over the upcoming Tax Day weekend.

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