Political Quotes

“While this agreement, based upon the flawed framework of the Bush-Cheney administration, offers no model for the future with regard to workers or environmental protection, I am supporting today's measure because of a successful response to a longstanding concern that I have had, that is, Panama's status as a notorious tax haven, a place where taxpayers who refuse to pay their fair share of the cost of our national security and vital public services could go to hide their assets and dodge taxes. About 2 years ago, Senator Carl Levin and I urged the administration to postpone the approval of this trade agreement until Panama first signed a Tax Information Exchange Agreement, where we could get information about assets hidden there and for Panama to change its laws regarding bank secrecy and other matters to assure that this agreement was meaningful. Panama has now met these conditions. For the first time ever, we can obtain information from the Panamanian Government on U.S. taxpayers who have Panamanian assets or income. Though the Treasury Department should have secured a stronger automatic information exchange similar to the one we have with Canada and 24 other countries--and I would much prefer also to see an actual record of Panamanian compliance--we need to accept this as a victory in the fight against offshore tax cheats. This would not have been possible had it not been for the strong Panamanian desire to get the trade agreement approved.…”