Task Force Members Submit Letter to Senate on Incorporation Transparency Act

June 22nd, 2009

This past week, Task Force members Global Financial Integrity, Global Witness, and Tax Justice Network USA along with the Center for Corporate Policy, Citizens for Tax Justice, Friends Fiduciary Corporation, Government Accountability Project, MaryKnoll, New Rules for Global Finance, Oxfam America, and Public Citizen submitted a letter to the US Senate Committee on Homeland Security and Governmental Affairs (HSGAC) in support of the Incorporation Transparency and Law Enforcement Assistance Act (S. 569).

The letter states that the legislation:

…will help law enforcement stop the misuse of U.S. corporations for tax fraud, money laundering, terrorist financing and other illicit financial transactions. Equally crucial will be to bring the United States in line with international standards of transparency.

The submission of the letter coincided with the Thursday HSGAC hearing on the bill, in which the letter did not go unnoticed.  Indeed, Carl Levin, the legislation’s sponsor, referenced the letter as well as GFI and TJN in his opening remarks, stating that the legislation has:

“been endorsed by groups combatting financial and corporate abuses including Tax Justice Network, Global Financial Integrity, Citizens for Tax Justice, Public Citizen and more.”

Read the complete letter here

Written by Clark Gascoigne

Follow @FinTrCo