Top House and Senate Democrats have offered new legislation on tax dodges (AP via New York Times). Statement from U.S. PIRG Tax and Budget Reform Advocate Nicole Tichon:
New Tax Reform Legislation is a Good First Step Toward Ending Bank Secrecy That Hurts Taxpayers

“The Foreign Account Tax Compliance Act of 2009 is a step in the right direction to reform a broken system where tax dodging individuals and corporations offload their burden on ordinary taxpayers.

“Holding foreign banks and corporations accountable for their clients can only help the process of ending bank secrecy. However, the bill can certainly be improved by giving the U.S. government even stronger enforcement mechanisms and by taking bold action against offshore shell companies.”