April 12, 2013
On Monday, April 15 (Tax Day), Representative Lloyd Doggett (D-TX) introduces the Stop Tax Haven Abuse Act. This legislation closes offshore tax loopholes and requires country-by-country reporting of corporate tax payments to both developed and developing nations. This reporting is critical to curbing illicit financial flows, a systemic cause of poverty.
"On Tax Day, the religious community couldn't be more pleased with Congressman Doggett and his vital legislation that protects poor people inside and outside our borders. His legislation means that corporations can't rob billions of dollars from poor people across the globe," said Eric LeCompte, Executive Director of Jubilee USA Network, a religious antipoverty organization.
"A critical piece of the legislation is country-by-country reporting of corporate payments to governments. Reporting at this level sheds light on the tax dodging that hurts all of us.
"It's pretty amazing. A few years ago no one talked about tax havens, let alone how corporate tax avoidance constitutes a theft from the poor. But now as people of faith call for the end of these offshore abuses, we are joining voices across the political spectrum with people who detest this corporate behavior from The Occupy Movement to The Tea Party."
Jubilee USA Network is an alliance of more than 75 US organizations, 250 faith communities and 50 Jubilee global partners working. Jubilee's mission is to build an economy that serves, protects and promotes participation of the most vulnerable. Jubilee USA has won critical global financial reforms and more than $130 billion in debt relief to benefit the world's poorest people. www.jubileeusa.org