The US Senate Finance Committee just announced that it will be holding hearings on the controversial Panama Free Trade Agreement.  The trade pact could have significant implications for tax evasion.

From Congressman Mike Michaud:

If Congress passed the Panama Free Trade Agreement (FTA), it would make matters worse. In fact, it would allow AIG-tied firms in Panama the right to challenge U.S. regulations in foreign tribunals, including laws designed to crack down on offshore havens. This is an unacceptable outcome to say the least.

According to the Committee’s website, Everett Eissenstat, the assistant U.S. trade representative for Western Hemisphere affairs, and representatives from the business and labor communities are expected to testify.

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