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STATEMENT: Congress Scraps Anti-Corruption Measure

On Feb. 3, 2017, the Senate voted 52-48 to scrap a rule designed to prevent oil companies from bribing foreign officials. Referred to as the Cardin-Lugar transparency provision, the rule required U.S.-listed drilling and mining companies including Exxon, Chevron and many others to publish details of their payments to governments across the world in return for rights to natural resources, with the goal of ending corruption. Fair Share's Nathan Proctor had this statement:

"We cannot tolerate a society where the rules only apply to some, but not the most powerful companies.

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6 ways the Senate Democrats' infrastructure plan will work better than President Trump's

The Trump White House previewed part of their infrastructure, and Senate Democrats have countered with a plan on its own.

While we don't know exactly what the administration is planning, during the campaign they offered an overview of a plan that focused on tax breaks for private developers. Over the last few days, a list of possible projects was leaked which appear to be at odds with that earlier overview.

Fair Share supports investing in infrastructure, prioritizing repair, maintenance, long-term sustainability and expanding access to economic opportunities.

Study: Offshore Corporate Cash Stockpile Up to $2.5 Trillion

73% of Fortune 500 Companies used tax havens in 2015, dodging $717.8 billion in federal taxes in the process.

A new report, "Offshore Shell Games," by the U.S. PIRG Education Fund, Citizens for Tax Justice and the Institute on Taxation and Economic Policy details how these companies hoard cash offshore. Collectively, multinationals reported booking $2.5 trillion offshore, with just 30 companies accounting for 66 percent of this total.

The cost to the tax payer is huge, with nearly $718 billion in dodged taxes.

There is a real cost to our communities when we allow a set of companies to play

ACTION: Anonymous and deadly

There are many reasons why we should ban the practice of anonymous shell companies -- companies formed with no way of knowing who is in charge.

But here's one of the most compelling: They're being used to shield illegal opioid dealers. Most businesses have nothing to hide, but if you do have something to hide, it's easy: You just set up an anonymous shell company -- which in America, requires less personal information than it takes to get a library card.

Since they're anonymous, shell companies are a favorite tool to hide all sorts of unsavory behaviors, from terrorism and drug cartels to

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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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