Congress must move quickly to increase support for the Financial Crimes Enforcement Network, the bureau of Treasury responsible for implementing some of the most significant updates to U.S. anti-money laundering laws in decades.
The Biden Administration’s budget for fiscal year 2024 includes a much-needed 20 percent increase in funding for the Financial Crimes Enforcement Network. The big question now is whether Congress will deliver.
The FACT Coalition welcomed international and administrative tax reforms in the President’s proposed 2023 Budget that would continue the Administration’s efforts to discourage tax dodging by multinational corporations, and once again make the U.S. a leader in global tax transparency.
In response to President Biden’s 2023 proposed budget, the FACT Coalition welcomed substantial increases in funding for the Financial Crimes Enforcement Network (FinCEN) and Office of Terrorism and Financial Intelligence (TFI).
