S. 5019, Corporate Tax Transparency Mandate. Quorum's AI analysis reads it as a net benefit — and names who gains.
S. 5019 · Net good
What it does
This bill requires large multinational corporations (those with annual revenue above a threshold set by the SEC) 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 disclosures would be filed with the SEC and made publicly available in machine-readable format, allowing investors, regulators, and the public to see where corporations earn money and how much tax they pay in each country.
The analysis names tax authorities and revenue agencies (enforcement capability) — and 2 more groups — among the beneficiaries.
The trade-off
Public disclosure of country-by-country data may enable tax authorities worldwide to identify profit-shifting patterns and coordinate enforcement, potentially increasing effective tax rates for multinationals without explicit legislative change.
Transparency scores 82%, with a medium warning level and no provisions unrelated to the bill's subject.
Who is behind it
Filed by Chris Van Hollen. Cosponsored by Bernie Sanders, Elizabeth Warren, Peter Welch and Richard Blumenthal.