Senator Chuck Grassley
by Andrew Hanauer
Recently, Jubilee USA and its partners at the FACT Coalition hosted an event at the US Capitol highlighting the need for financial transparency and accountability. The bipartisan gathering capped a three-day event on Capitol Hill in which faith leaders and small business owners from across the country flew to Washington D.C. to encourage Congress to pass legislation curbing tax havens, ending harmful tax loopholes and shutting down anonymous shell companies.
Speakers included Jubilee USA Executive Director Eric LeCompte, Senator Carl Levin of Michigan, Rep. Lloyd Doggett of Texas, a representative of Senator Chuck Grassley of Iowa and Jubilee representative Roberta Badger-Cain of Jubilee Oregon and First Presbyterian Church of Portland. The opening prayer was delivered by Rabbi Menachem Creditor of Congregation Netivot Shalom in California and the closing prayer was given by Jubilee Board Co-Chair Beatrice Parwatikar.
Jubilee and its partners were honored to have Senator Grassley's views conveyed at the event. Senator Grassley is the co-sponosor, along with Senator Levin, of the Incorporation Transparency and Law Enforcement Act, which would make it harder for individuals and corporations to form anonymous shell companies. Such companies are often used to facilitate criminal behavior, including tax avoidance, which drains resources away from developing countries who rely on tax revenue to fund social services for some of the world's poorest people.
Below is Senator Grassley's statement on the Incorporation Transparency and Law Enforcement Act:
“Prosecutors of financial crimes follow the money. It’s hard for them to do that when criminals are able to exploit corporate transparency laws. The more focused attention on the need for our legislation, the better, as we work toward passage. I’m grateful for the work of the experts and advocates who are educating the public and policymakers about the need for transparency about corporate ownership.”
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