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Closing Tax Loopholes is Great, But Tackling Anonymous Companies is Just as Important
January 21st, 2015

President Obama wants to stop the billions of dollars that are moving offshore from U.S. companies.

Or he at least said so much during his State of the Union address last night:
As Americans, we don't mind paying our fair share of taxes, as long as everybody else does, too. But for far too long, lobbyists have rigged the tax code with loopholes that let some corporations pay nothing while others pay full freight. This year, we have an opportunity to change that. Let's close loopholes so we stop rewarding companies that keep profits abroad, and reward those that...
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Obama Admin Lobbies World to Adopt Country-by-Country Reporting in Extractive Industries
April 29th, 2011
Last summer, we reported that the Obama Administration planned to globally promote the Energy Security Through Transparency (ESTT) provisions (Sec. 1504) of the new Dodd-Frank legislation.  Now, it appears as though they've remained true to their word. Last July, after the passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, the White House released a statement about Sec. 1504 saying (underlining added by me):
This provision is an essential new tool in promoting transparency in the oil and mineral sectors. This legislation will immediately shed light on billions in payments between multinational corporations...
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This Just In: White House to Promote Global Transparency Standard in Extractive Industries
July 26th, 2010
U.S. President Applauds New SEC Reporting Requirement, Vows to Campaign for Adoption of Similar Global Regulation Last Wednesday, as President Obama’s signature graced the Dodd-Frank Wall Street Reform and Consumer Protection Act, the long-awaited overhaul of the financial regulatory system finally became the law of the land. This included a small but important provision, the Energy Security Through Transparency (ESTT) amendment, which is designed to increase transparency in extractive industries by requiring oil, gas, and mining companies registered with the Securities and Exchange Commission...
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