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ADA Updates

ADA Urges Congress to Get Tough on Tax Cheats
Posted Mar 12 2009 at 4:00 PM
Updates >>

Americans for Democratic Action welcomes the news that Senate Finance Committee Chairman Max Baucus (D-MT) is drafting legislation to fight offshore tax evasion.

Senator Baucus hopes to strengthen the bill by circulating a draft proposal for comment before formally introducing the legislation.  We urge Senator Baucus to review proposals by Senator Carl Levin and others in the Stop Tax Haven Abuse Act introduced on March 2, 2009.  The Stop Tax Haven Abuse Act will close loop holes, strengthen detection and investigation capabilities, stiffen penalties, and toughen requirements.

ADA Counsel and noted expert on offshore tax evasion Jack Blum said: “The practice of offshore tax evasion costs the Treasury $100 billion each year and is an affront to honest Americans.  Tax cheats are burning a hole in the budget that hardworking Americans are forced to fill.  We are pleased to see Senator Baucus addressing this issue and urge him to strengthen his legislation with provisions like those in the Stop Tax Haven Abuse Act.”