March 31, 2009
Monique Perry Danziger, +1 202 293 0740 ext. 222
WASHINGTON, DC – Global Financial Integrity (GFI) submitted a statement to the U.S. House of Representatives Committee on Ways and Means today on critical measures needed to ensure success in Congressional efforts to curtail abuse of tax havens. The statement, submitted for the hearing held today on “Banking Secrecy and Wealthy American Taxpayers,” recommends provisions set forward in the the Stop Tax Haven Abuse Act and Incorporation Transparency Act, both sponsored by Senator Carl Levin and introduced earlier this month.
GFI also submitted a letter signed by 29 public interest groups supporting the Stop Tax Haven Abuse Act to Congressional leadership yesterday. Signatories of the letter include the 10 million-member AFL-CIO, the 30-year old tax fairness group Citizens for Tax Justice, and the government accountability organization OMB Watch. The letter states that there is a “need for strengthening anti-tax evasion law and increasing transparency in the global economic system.” And that the signatories “welcome the increased focus from Congress on the problem of tax haven abuse.”