Financial Transparency Coalition

WASHINGTON, DC – Sen. Carl Levin, D-Mich., and several other senators have introduced a bill to close offshore tax loopholes and strengthen offshore tax enforcement.

First Full Country-By-Country Reporting Standard Proposed in U.S.

This morning, U.S. Senator Carl Levin introduced the Stop Tax Haven Abuse Act (STHAA).  The bill proposes solutions to loopholes and vulnerabilities in American policy that allow corporations to escape taxes.  Tax evasion currently costs American taxpayers over $100 billion each year. Introducing the bill, Senator Levin said:

The bottom line is that each of us has a legal and civil obligation to pay taxes, and most Americans fulfill that obligation.  It is time to force the tax scofflaws, the tax dodgers, and the tax cheats to do the...

WASHINGTON – Stating that “Uncle Sam can’t afford offshore tax abuses that are robbing the Treasury of $100 billion in lost revenue yearly and increasing the tax burden on honest, hardworking Americans,” Sen. Carl Levin, D-Mich., together with cosponsors Senator Bill Nelson, Sanders, Shaheen, and Whitehouse, today introduced legislation to close offshore tax loopholes and strengthen offshore tax enforcement.

Mr. President, I am introducing today with my colleagues Senators Bill Nelson, Sanders, Shaheen, and Whitehouse, the Stop Tax Haven Abuse Act, legislation which is geared to stop the $100 billion yearly drain on the U.S. treasury caused by offshore tax abuses. Offshore tax abuses are not only undermining public confidence in our tax system, but widening the deficit and increasing the tax burden on middle America.