On March 8th, the Senate adopted the “Levin Amendment.”
Global Financial Integrity reports:
The amendment, sponsored by Senators Carl Levin (D-MI), Kent Conrad (D-ND) and Sheldon Whitehouse (D-RI), grants the U.S. Treasury Department “a discretionary tool to stop off-shore tax havens and their financial institutions that ‘impede U.S. tax enforcement’ from transacting business in the United States.” The Joint Committee on Taxation estimates the provision would raise $900 million in government revenue over ten years.
Senate adopts offshore tax amendment is an article on Wealth For Common Good.
