Congress Could Repeal Bipartisan Anti-Corruption Measure

Washington DC - Congress could repeal a bipartisan anti-corruption measure aimed at promoting transparency in the oil, gas and mining sector. The bipartisan "Cardin-Lugar amendment" to the 2010 Dodd-Frank Wall Street Reform Act requires oil and mining companies to publish payments they make to foreign governments. Reuters reports that members of the House of Representatives plan to introduce a Congressional Review Act resolution that would repeal the amendment.

"The bipartisan Cardin-Lugar amendment is not just an important anti-corruption measure, it's an important anti-poverty measure," said Eric LeCompte, executive director of the religious development coalition Jubilee USA. "Congress should not repeal this critical law.‎"‎

Developing countries lose more than one trillion dollars each year to corruption and tax evasion. Countries with substantial natural resources will lose some transparency protections if the "Cardin-Lugar" or Section 1504 of Dodd-Frank is repealed.

"Corruption is devastating for the world's poorest people. Corruption fuels conflict and instability around the world," noted LeCompte. "Congress should promote financial transparency here and abroad."

Jubilee USA Network is an alliance of more than 75 US organizations and 650 faith communities working with 50 Jubilee global partners. Jubilee USA builds an economy that serves, protects and promotes the participation of the most vulnerable. Jubilee USA wins critical global financial reforms and won more than $130 billion in debt relief to benefit the world's poorest people. http://www.jubileeusa.org