“U.S. Administration Chose to Double Down on Its Abdication of American Leadership.”
WASHINGTON, D.C. – Just one week after pulling out of the Paris Agreement to combat climate change, the U.S. administration has chosen to back away from yet another international convention — this one to combat abusive tax avoidance. Coincidentally, the tax agreement was also negotiated and signed in Paris — at the headquarters of the Organization for Economic Co-operation and Development (OECD).
Roughly seventy countries convened in Paris today to formally adopt the agreement, but the U.S. was conspicuously absent. Advocates with the Financial Accountability and Corporate Transparency Coalition (FACT Coalition), a non-partisan alliance of more than 100 state, national, and international organizations in the U.S. working toward a fair tax system that addresses the challenges of a global economy, expressed disappointment with the administration for retreating from yet another international effort.
Clark Gascoigne, the deputy director of the FACT Coalition, issued the following statement:
“Today, the U.S. administration chose to double down on its abdication of American leadership. After withdrawing from the climate change accords last week, the administration backed away from another Paris-based international agreement today — one that combats tax avoidance by multinational corporations. Tax dodging by large multinationals is a global problem that costs American taxpayers in excess of $130 billion per year — more than any other country. Combating a global problem like this requires international cooperation, which is why roughly 70 countries met in Paris today to sign a convention that the U.S. was instrumental in negotiating. By retreating from the agreement at this point, the U.S. is forfeiting leadership in yet another forum.”
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Journalist Contact:
Clark Gascoigne, Deputy Director
+1 202 810-1334
cgascoigne@thefactcoalition.org
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