Documents newly released by the Federal Election Commission in cases involving 2012 election-cycle contributions to super PACs may foreshadow enforcement action against limited liability companies in the future.
In four cases dating back to the last presidential election cycle, the FEC commissioners deadlocked 3-3 on whether to go forward with investigations of whether several LLCs were used to try to mask the … read more: An FEC warning on LLC gifts to super PACs? | OpenSecrets Blog
The race to replace former Speaker of the House John Boehner (R-Ohio) attracted more outside money than any other primary faceoff in the House of Representatives so far this cycle, data collected by the Center for Responsive Politics shows.
For the constantly sniping trios of Republicans and Democrats on Federal Election Commission, any molehill can be made a mountain — even a question of whether to use the word “a” or “the” in regulations.
What was supposed to be a routine clean-up of language in campaign finance regulations turned political this week as FEC Commissioner Lee Goodman objected to suggested edits regarding … read more: No issue too small to create a standoff at the FEC | OpenSecrets Blog
As a huge documents leak turns a spotlight on the global tax evasion industry, a Swiss company in hot water for similar activity is responsible for the greatest amount of known foreign-connected money in U.S. elections so far this cycle.
News outlets brought together by the Washington, D.C.-based International Consortium of Investigative Journalists this week began publishing numerous reports, called the Panama Papers, linking the names of the world’s most rich and powerful individuals to secret shell companies in offshore tax havens.
The journalists used as source material documents from “the biggest leak in whistleblower history,” according to Wired, which came from a Panamanian law firm that has for decades helped conceal vast amounts of wealth in tax shelters.
But ICIJ had been tracking tax evasion long before helping bring the Panama Papers to light, and in February wrote on the findings of an investigative report by the French newspaper Le Monde on UBS AG.
The report showed the Swiss bank “knowingly helped French citizens hide their money from the taxman,” according to ICIJ.
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Source: UBS, accused of helping tax evaders, leads the way in foreign-connected PAC giving | OpenSecrets Blog