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The US has thwarted global efforts to track down tax cheats

Bloomberg For all its unilateral tendencies, the U.S. typically isn’t known as a rogue state. But in one area it has come close: By failing to share information with other countries, it has thwarted global efforts to track down tax cheats, money launderers and terrorists efforts that it once led. Congress has just taken a step in the right direction by supporting provisions attached to the 2021 National Defense Authorization Act that would require certain U.S. companies to report their beneficial owners to Treasury. (President Donald Trump has threatened to veto the bill for unrelated reasons, but the measure seems to command veto-proof support.) This effort is welcome, but there’s a lot more to do.

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