The IRS estimates that individuals and corporations currently hold $5 trillion in tax haven countries and asserts that the United States is responsible for a large portion of these assets. Many corporations operating in the United States funnel money through offshore tax havens in order to avoid paying billions in U.S. taxes.

A new study of official state websites focusing on the federal stimulus program finds that Wisconsin ranks better than most states but still needs to improve the quality of its online reporting.

Following the collapse of major financial institutions Congress enacted a sweeping $700 billion taxpayer financed bailout of the financial sector. However, months into the program and billions of dollars later, no one knows how the money was spent and no one is convinced that it’s achieved any of the intended results. The U.S Public Interest Research Group Education Fund (U.S. PIRG) believes it is critical for Congress to demand and the Department of Treasury to implement mechanisms and metrics to make sure that the actions of the TARP recipients reflect the original goals and objectives of the Emergency Economic Stabilization Act (EESA). Those mechanisms must be based on the sound public policy principles of oversight and accountability.