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World’s Largest Banks Support Reforms to End Anonymous Companies

The Clearing House Association—representing the world’s largest commercial banks—sent a letter to Congressional lawmakers supporting strong measures to crack down on the abuse of anonymous companies.  The group, which counts among its owners Bank of America, Citibank, JPMorgan Chase, and Wells Fargo, explicitly endorses the bipartisan Incorporation Transparency and Law Enforcement Assistance Act (H.R.4450, S.2489). (Via the FACT Coalition)

Fair Share has been working to close loopholes that allow anonymous companies.

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Anonymity Overdose - How our opioid crisis and shell companies are linked

Aug. 1, 2016 -- Opioid deaths now exceed those from motor vehicle accidents. It's clear we need to do more. Fair Share Education Fund's latest report, “Anonymity Overdose,” connects opioid trafficking and the subsequent crisis with the activities of anonymous shell companies – companies formed with no way of knowing who is actually in charge. Because they shield the owners from accountability, anonymous shell companies are a common tool for disguising criminal activity and laundering money, and are also at heart of the Panama Papers.

“Anonymity Overdose” found 10 case studies that show the

In Mass., 1,100 and counting call for reversal of early education cuts

Community members have expressed frustration in response to Governor Charlie Baker vetoing $17.5 million in funding to early education, including a much needed $7.5 million to the struggling workforce. A petition that has garnered over 1100 supporters in just the last 2 days from across the state will be delivered to The Massachusetts State House and State Senate in an effort to push legislators to override Gov. Baker’s targeted line item cuts to early education funding.

Since 2001, early education and out-of-school-time programs have lost more than $148 million in state funding (adjusting

Obama administration takes step to curb offshore tax dodging

On Wednesday June 29, the Obama administration's Department of Treasury issued new rules which require large U.S. multinational companies to report profits and taxes on a country-by-country basis.

This is meaningful progress in Fair Share's ongoing work to end offshore tax dodging.

These new rules mean that the IRS will collect and exchange tax information on a country-by-country basis, and will show them tax multinationals paid overseas (for companies making more than $850 million per yer). The more interesting aspect of course, are the taxes they didn't pay.

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Our statement on Supreme Court blocking progress on immigration reform

WASHINGTON, DC -- Fair Share is deeply disappointed that the Supreme Court's decision today to block progress on immigration reform. This news further clarifies the need for Congress to act.

Our immigration system is broken, and that’s bad for our country and our economy. It’s long past time to bring undocumented workers out of the shadows and allow them to join the legal, regulated workforce, with a fair shot and fair wages and the same rules as everyone else. We can fix our immigration system with a common sense, comprehensive set of reforms that ensures everyone plays by the same rules.

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