Big corporations must now reveal where they hide profits—and taxes.
H.R. 9761 — Disclosure of Tax Havens and Offshoring Act · Filed by Brittany Pettersen (D-CO) · 1 cosponsor · Introduced Jul 16, 2026 · Referred to committee
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What it does
This bill requires large multinational corporations listed on U.S. stock exchanges to publicly disclose detailed financial information broken down by country—including revenues, profits, taxes paid, and employee counts in each jurisdiction where they operate. The SEC must write rules within one year, and companies must file these reports annually alongside their tax returns, with all data published online in a machine-readable format.
Why we flagged it
The bill's core mechanism is a mandatory disclosure requirement—it does not change tax law or impose new taxes, but rather requires public reporting of financial data by country. This is a transparency and accountability measure, not a tax or spending bill.
What the text implies
- Disclosure may enable state and local tax authorities to identify and challenge aggressive tax-planning strategies, potentially increasing audit activity and tax disputes.
- Competitors and activist investors may use country-by-country data to pressure companies on tax fairness, labor practices, or environmental compliance in low-tax jurisdictions.
The full analysis lists 5 implications of this text.
Who it affects
The bill increases transparency about where multinational corporations earn profits and pay taxes, enabling citizens, policymakers, and tax authorities to identify potential tax avoidance strategies and hold companies accountable. The disclosure mechanism itself imposes no direct cost on ordinary people and serves the public interest in tax fairness and corporate accountability.