Anti-corruption laws protect consumers, governments, businesses and taxpayers from foul-play. That’s why Congress passed a specific provision in our Financial Reform and Consumer Protection Act to help safeguard against corruption.
The current provision applies specifically to oil, gas, and mining companies listed on U.S. stock exchanges. It requires these companies publicly disclose detailed information about the payments they make to all governments in order to extract natural resources.
Yet the new Congress wants to roll back our anti-corruption laws.
Mining, digging and drilling companies are already some of the powerful corporations in the world. Allowing them to hide payments to governments puts not only our democracy at risk, but all governments.
Today, Michigan Republican Rep. Bill Huizenga will introduce a resolution to undo the anti-corruption provision and further obscure the financial transactions of these powerful industries.
Lauren Pagel, Earthworks Policy Director