Ask your senators to vote “yes” on the bipartisan Illicit Cash Act (S. 2563). A similar bill has already passed in the House as the Corporate Transparency Act (H.R. 2513). The senate bill, sponsored by Senator Mark Warner (D-VA) and cosponsored by both Republican and Democratic senators, takes various steps to identify and prevent money-laundering schemes.
Like its counterpart in the House, a key provision of the bill (contained in Title IV) is aimed at criminals, terrorists, traffickers, and wealthy tax cheats who hide behind anonymous shell corporations. The bill would require shell companies to disclose their true financial beneficiaries to the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) and face penalties if they failed to do so. If enacted, it could help law enforcement crack down on foreign laundered money being hidden through the purchase of pricey U.S. property, an allegation often raised in conjunction with the Trump organization’s many cash sales of real estate to unknown buyers.
Senator Patty Murray: 202-224-2621 / 206-553-5545
Senator Maria Cantwell: 202-224-3441 / 206-220-6400
Script:
“Hello. My name is [name], and I’m calling from [city, zip]. I am calling to ask the senator to support the Illicit Cash Act (S. 2563) when it comes to a vote. I’m concerned about the ease with which anyone can currently hide behind a shell corporation and carry out illegal financial transactions like money laundering and tax evasion. I support the greater corporate transparency this act provides to law enforcement.”
Background:
Note: There is no official summary of the senate version posted yet.
Senate bill summary: https://www.warner.senate.gov/public/index.cfm/2019/9/date
House bill summary: https://www.congress.gov/bill/116th-congress/house-bill/2513
Good News!
The CEO of Twitter, Jack Dorsey, announced this week that the company will stop accepting all political advertising. “We believe political message reach should be earned, not bought,” Dorsey tweeted. Now the question is whether citizen pressure can influence FaceBook and Google to follow suit.
https://www.cnn.com/2019/10/30/tech/twitter-political-ads-2020-election/index.html
