Brittany Pettersen (D-CO)
Disclosure of Tax Havens and Offshoring Act
A Democratic bill with 1 Democratic cosponsor · See the cosponsor
Last activity — Referred to the House Committee on Financial Services.
In committee
Introduced and handed to a committee in the chamber it started in.
The committee holds it, and most bills are never heard from again. A hearing or a committee vote would be news; silence is the usual outcome, and it kills the bill without anyone voting against it.
Its path through Congress
- Introduced
- In Committee
What this bill would do
This bill, known as the "Disclosure of Tax Havens and Offshoring Act," aims to amend the Securities Exchange Act of 1934. It would require certain large multinational enterprise groups, referred to as "covered issuers," to submit detailed financial reports to the Commission. These reports must include information on constituent entities and financial performance within various tax jurisdictions. The reporting includes details such as revenues, profits, losses, taxes paid, and employee counts. The Commission is tasked with creating regulations and ensuring the data is available to the public in a machine-readable format.
Yes· 3 of 5
- Scored +6
Does this make what the government does easier for the public to see?
The bill mandates that financial data from large multinational corporations be made available to the public online.
- Scored +3
Does this raise the taxes companies pay?
The bill increases transparency regarding tax payments in different jurisdictions, which can facilitate tax enforcement.
- Scored +2
Does this give people more protection from unfair business practices?
Greater transparency into multinational financial operations provides more information to stakeholders and consumers.
The opposite
- Scored -3
Would business owners be better off under this?
Large multinational corporations face new and complex compliance and reporting obligations.
- Scored -2
Would high-income households be better off under this?
The bill targets large multinational enterprise groups which may include highly profitable high-income entities.
- Scored -1
Does this give people more control over their personal data?
The bill requires the public disclosure of certain corporate financial and organizational data.
Who it would affect, and how
Potential Positive Impacts for People
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Increased Transparency: The bill requires "covered issuers" to submit a report to the Commission that includes specific information on constituent entities and tax jurisdictions, such as revenues, profits, and taxes paid (Sec. 2(a)(2)(A)-(B)).
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Public Access to Information: The required information must be provided in a machine-readable format that the Commission makes available to the public online (Sec. 2(b)(2)).
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Standardized Reporting: The Commission is directed to create regulations that conform to United States or international standards for country-by-country reporting (Sec. 2(a)(2)(E)).
Potential Negative Impacts for People
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Compliance Requirements for Large Corporations: "Covered issuers," which are members of multinational enterprise groups with annual revenue of at least a certain amount determined by the Commission, must submit detailed reports including legal names, tax jurisdictions, and business activities (Sec. 2(a)(1)-(B)).
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Complex Reporting Obligations: Companies must provide aggregated or consolidated information for multiple jurisdictions, including revenues, profit or loss, total income tax paid, and the number of employees (Sec. 2(a)(2)(B)(ii)).
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Strict Filing Deadlines: Covered issuers must submit their reports on or before the due date for filing their tax return in the jurisdiction where the multinational enterprise group is resident (Sec. 2(a)(2)(D)).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Tap or hover a score for the reason it gave.
- Governance And Ideology
- Does this make what the government does easier for the public to see? — The bill mandates that financial data from large multinational corporations be made available to the public online.
- Economy And Finance
- Does this raise the taxes companies pay? — The bill increases transparency regarding tax payments in different jurisdictions, which can facilitate tax enforcement. Does this give people more protection from unfair business practices? — Greater transparency into multinational financial operations provides more information to stakeholders and consumers.
- Demographic And Interest Groups
- Would households on low incomes be better off under this? — Increased tax transparency can lead to more effective tax collection which supports public services. Would people in cities be better off under this? — The transparency requirements may lead to better resource allocation for public infrastructure and services. Would business owners be better off under this? — Large multinational corporations face new and complex compliance and reporting obligations. Would high-income households be better off under this? — The bill targets large multinational enterprise groups which may include highly profitable high-income entities.
- Education And Technology
- Does this give people more control over their personal data? — The bill requires the public disclosure of certain corporate financial and organizational data.
- 7/16/2026
- Referred to the House Committee on Financial Services.
- 1 Cosponsor added.
- Introduced in House
2 bills Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Eleanor NortonDemocrat · District of Columbia