Corporate tax avoidance has had a very harmful impact on our country and our ability to build a shared economy that works for every American — not just the wealthiest. U.S. corporations dodge paying tens of billions of dollars in income taxes each year by shifting profits to subsidiaries in tax havens abroad — some no more than an overseas post office box.

Earlier this month, the Biden Administration announced an agreement among 130 countries to enact a global minimum corporate tax to start to put an end to corporate tax dodging and stop corporations from pitting countries against each other in a race to the bottom.

This is an important step, but we must go further. That’s why I have introduced legislation to require public companies to DISCLOSE their country-by-country financial information.

The Disclosure of Tax Havens and Offshoring Act would shine a bright light on the tactics big corporations use to hide profits in foreign countries and avoid paying taxes in the United States.

This legislation has already passed the House of Representatives, and we are working hard to get it done in the Senate.

It’s long past time to shine a light on corporations that are dodging our tax system and undermining our economy in the process. If you agree, click here to sign my petition — and show your support for legislative action:

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Thank you for raising your voice on this issue. If we are going to transform our economy to invest in opportunities so everyone can succeed, corporations need to do their fair part.

Chris

Paid for by Van Hollen for Senate

Van Hollen for Senate | 10605 Concord Street, Suite 202 | Kensington, MD, 20895

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