H.R. 2669: Stop Tax Haven Abuse Act

112th Congress · introduced 2011-07-27 · Taxation · Latest: Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises.

federal

Follow this bill, step by step

Where it came from: introduced 2011-07-27 · official record
Who proposed it: Rep. Doggett, Lloyd [D-TX-25] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Stop Tax Haven Abuse Act

Plain summary

Stop Tax Haven Abuse Act - Authorizes the Secretary of the Treasury to impose restrictions on foreign jurisdictions or financial institutions operating in the United States that are of prime money laundering concern or that impede U.S. tax enforcement. Amends the Internal Revenue Code to: (1) establish a rebuttable presumption against the validity of transactions by institutions that do not comply with reporting requirements under the Foreign Account Tax Compliance Act (FATCA), (2) treat certain foreign corporations managed and controlled primarily in the United States as domestic corporations for tax purposes, (3) require tax withholding agents and financial institutions to report certain information about beneficial owners of foreign-owned financial accounts, (4) treat credit default swap payments sent offshore as taxable U.S. source income, (5) allow the use of tax return information to evaluate foreign financial account reports, (6) increase penalties for promoting abusive tax shelters and for aiding and abetting the understatement of tax liability, (7) prohibit tax advisor contingent fee agreements for obtaining a tax savings or benefit, and (8) impose additional requirements for third party summonses used to obtain information in tax investigations that do not identify the person with respect to whose liability the summons is issued (i.e., John Doe summons). Amends the Securities Exchange Act of 1934 to: (1) require corporations registered with the Securities and Exchange Commission (SEC) to report annually, on a country-by country basis, on employees, sales, financing, tax obligations, and tax payments; and (2) authorize a fine of up to $1 million for failure to disclose any holding or transaction involving equity or debt instruments known to involve a foreign entity that would otherwise be subject to disclosure requirements. Requires the Secretary to publish a proposed rule in the Federal Register requiring unregistered investment companies, including hedge funds or private equity funds, to establish anti-money laundering programs and submit suspicious activity reports. Extends anti-money laundering requirements to persons engaged in the business of forming new businesses or other legal entities. Requires federal banking agencies and the SEC to develop examination techniques to detect and prevent abusive tax shelter activities or the aiding or abetting of tax evasion by financial institutions. Requires the Secretary to: (1) disclose tax return information to federal financial regulators for purposes of tax shelter investigations; (2) disclose to Congress documents relating to a determination to grant, deny, revoke, or restore the tax-exempt status of an organization; and (3) expand the standards applicable to tax practitioners for issuing written advice on transactions which have a potential for tax avoidance or evasion.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Stop Tax Haven Abuse Act

Source: Congressional Research Service summary (Introduced in House)

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The strongest published arguments

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Doggett, Lloyd [D-TX-25] · 77 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

John B. Larson (D-CT), Rosa L. DeLauro (D-CT), Chris Van Hollen (D-MD), Peter Welch (D-VT), Linda T. Sánchez (D-CA), Janice D. Schakowsky (D-IL), Danny K. Davis (D-IL), James P. McGovern (D-MA), Mazie K. Hirono (D-HI), Henry C. "Hank" Johnson, Jr. (D-GA), Gwen Moore (D-WI), Marcy Kaptur (D-OH), Paul Tonko (D-NY), Brad Sherman (D-CA), Gary C. Peters (D-MI), Tammy Baldwin (D-WI), Edward J. Markey (D-MA), Emanuel Cleaver (D-MO), Al Green (D-TX), Jerrold Nadler (D-NY), John Garamendi (D-CA) and 17 more.

Sponsor's campaign money: Rep. Doggett, Lloyd [D-TX-25] reported raising $471,289 (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (5)

Authorization: A law that creates or continues a government program and says what it may do, often with a suggested spending ceiling. An authorization alone does not provide money; a separate appropriation does.
Federal Register: The official daily publication of the U.S. government for agency rules, proposed rules, public notices and presidential documents.
Obligation: A binding promise by a government agency to pay money, for example by signing a contract or awarding a grant. Spending data such as USAspending.gov counts money when it is obligated, which can be before it is actually paid out.
Rulemaking: The process agencies use to write regulations that carry out laws passed by Congress or a legislature. Usually an agency publishes a proposed rule, takes public comments, then publishes a final rule.
Securities: Financial investments that can be bought and sold, such as stocks and bonds.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in House)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-112hr2669.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/112/hr>

Record fed-us-cong112-hr2669 · catalog fed-us-congress-bills-cong112 · updated 2026-11-15 by psicol fed-bills-cong112