Faith leaders, small business owners, activists, and others will be fanning out across Capitol Hill to tell lawmakers in both chambers and in both parties of the impact that offshore tax haven abuse and the use of anonymous shell companies are having on communities as the FACT (Financial Accountability and Corporate Transparency) Coalition kicks off its Advocacy Days.
FACT’s latest report examines the devastating effects of illegal gold mining in Latin America, with a focus on how the U.S. financial system facilitates the laundering of illicit gold profits.
FACT program director for environmental crimes and illicit finance Julia Yansura was quoted by the Organized Crime and Corruption Reporting Project in their coverage of the remittance tax provision included in the 2025 budget megabill.
“While Congress’ remittance tax raises relatively little money for the United States, these paltry funds will come with a huge illicit finance risk, driving financial flows underground.”
Lawmakers, small business groups, national security experts, and law enforcement organizations speak out against Treasury’s gutting of the Corporate Transparency Act, and Senate tax negotiations could decide the fate of tax loopholes for U.S. multinational companies.
As gold prices surge past $3,000 per troy ounce—a historic milestone driven by geopolitical turmoil, inflation fears, and a weakening U.S. dollar— the effects are being felt around the world and underscore the role that illicit finance and illegally extracted resources play in fueling conflicts.
FACT makes the connection between the recent rollout and worldwide tariffs and US corporate tax policy, and is cited by several news outlets across our issue areas in this edition of Just the FACTs.
