Senate Committee on Homeland Security and Governmental Affairs
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	Press Releases February 21, 2008   STATEMENT OF SENATOR CARL LEVIN ON THE NEED TO END OFFSHORE SECRECY AND TAX ABUSE   “Recent events involving a bank in Liechtenstein once again demonstrate the problems presented by secrecy jurisdictions and tax havens that enable individuals to hide assets and evade taxes. “Liechtenstein’s LGT Bank, which is owned by the Royal family, has apparently harbored numerous secret accounts which hid the taxable assets of thousands of citizens from around the world. It is my understanding that many U.S. citizens have also hidden assets at this bank, which is a real injustice to the millions of working families in this country who honestly pay their taxes every year. “I intend to investigate this matter further, and urge the Senate to enact the Stop Tax Haven Abuse Act, which I introduced last year. This legislation contains innovative provisions to combat offshore secrecy and end the use of tax havens such as Liechtenstein by U.S. citizens who are dodging their tax obligations, and ripping off America and honest American taxpayers in the process. “Offshore tax evasion produces an estimated $100 billion in unpaid taxes each year. It’s long past time to collect these taxes and stop the tax dodgers from offloading their tax burden onto the backs of honest Americans.” ### _________________________ Tara Andringa Press Secretary Senator Carl Levin Tara_Andringa@levin.senate.gov 202-228-3685   ###   Printable Version   Related File(s) (pdf) PSI PRESS RELEASE (2-21-08) (14.7 KBs) « previous Press Release next Press Release »   1998 - 1999 - 2000 - 2001 - 2002 - 2003 - 2004 - 2005 - 2006 - 2007 February 2008 Press Releases January   |  March   --   2007   |  2009     February 29 - SENATOR COLLINS WORKS TO ENSURE THAT MAINERS CAN STILL BOARD AIRPLANES WITH MAINE DRIVERS' LICENSES WHEN NEW REGULATIONS ARE IMPLEMENTED   February 27 - SENATE HOMELAND SECURITY COMMITTEE HOLDS HEARING TO EXAMINE GOVERNMENT’S RELIANCE ON PRIVATE SECURITYCONTRACTORS OVERSEAS   February 22 - SENATOR COLLINS REQUESTS TIMELINE FROM FEDERAL AGENCIES FOR STEPPING UP CYBER-SECURITY   February 15 - SENATOR COLLINS’ STATEMENT ON DAVID WALKER’S DEPARTURE FROM GAO   February 15 - SENATOR COLLINS QUESTIONS DHS CHIEF ON TWIC CARD AVAILABILITY   February 14 - SENATOR COLLINS QUESTIONS DHS SECRETARY CHERTOFF ABOUT PROPOSED CUTS TO HOMELAND SECURITY GRANTS   February 13 - LEGISLATION NEEDED TO REQUIRE NATIONAL GUARD AND RESERVES TO STEP UP CIVIL SUPPORT DURING DOMESTIC CATASTROPHES   February 7 - SENATOR COLLINS WORKS TO PROVIDE ADDITIONIONAL RESOURCES FOR AMERICA’S FIREFIGHTERS
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Committee on Homeland Security and Governmental Affairs 340 Dirksen Senate Office Building Washington, D.C. 20510