releases: https://web.archive.org/web/20140912204359/http://shea-porter.house.gov/media-center/press-releases/shea-porter-don-t-give-jpmorgan-a-tax-deduction-for-breaking-the-law
Data license: MIT · Data source: dwillis/congress-press
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| url | title | date | year | month | party | chamber | state | member_name | bioguide_id | domain | scraper | source | date_source | text | has_text | collected_at | updated_at |
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| https://web.archive.org/web/20140912204359/http://shea-porter.house.gov/media-center/press-releases/shea-porter-don-t-give-jpmorgan-a-tax-deduction-for-breaking-the-law | Shea-Porter: Don’t Give JPMorgan a Tax Deduction for Breaking the Law | 2013-11-27 | 2013 | 2013-11 | Democrat | House | NH | Carol Shea-Porter | S001170 | web.archive.org | legacy | FOR IMMEDIATE RELEASE Contact: Ben Wakana, 202-225-5456 WASHINGTON, DC – Congresswoman Carol Shea-Porter has cosponsored legislation that would prevent Wall Street banks from collecting tax breaks on fines paid to the U.S. government as a result of irresponsible behavior that helped caused the financial crisis. “New Hampshire taxpayers already bailed out Wall Street once,” Shea-Porter said. “Banks should not be allowed to collect a tax break on fines levied against them for reckless and irresponsible behavior. It’s time Congress stopped letting Wall Street write the rules and started standing up for Main Street.” Recently, JPMorgan agreed to pay $13 billion in penalties for faulty mortgage assets it sold in the years leading up to the financial crisis. The $13 billion settlement is a record amount paid by one corporation to the federal government, but according to JPMorgan’s Chief Financial Officer Marianne Lake, billions will be tax-deductible. H.R.3445, the Stop Deducting Damages Act of 2013 would stop big banks from writing off, as a business expense, settlement payments to the government. This would ensure that taxpayers are not partially on the hook when large financial institutions agree to settlements with the government. In 2008, Shea-Porter voted against legislation to create the Troubled Assets Relief Program (TARP), also known as the bank bailout. ### | 1 | 2026-03-30T12:14:52Z | 2026-03-30T12:14:52Z |