Schatz To Oppose Efforts To Roll Back Anti-Corruption Law

WASHINGTON – Today, U.S. Senator Brian Schatz (D-Hawai‘i) released the following statement in opposition to efforts to roll back the Cardin-Lugar amendment, a bipartisan rule that combats corruption in mineral-rich developing countries.

“In 2010, the United States set a new international standard for anti-corruption by passing the Cardin-Lugar amendment, which requires oil and mining companies to report payments they’ve made to foreign governments. When some 30 countries followed our lead, it was clear that the United States had raised the global bar that protects investors, empowers consumers, and makes it harder for dictators and despots to steal from their own citizens.

“Now Republicans are trying to roll back our global leadership by subjecting this amendment to the Congressional Review Act—a move that makes no sense. Weakening our corruption laws is bad for American consumers, who deserve to know that they’re not subsidizing oppressive regimes every time they fill up at the pump, and it’s bad for our national security, given how corruption fuels insecurity, poverty, and oppression in other countries. And investors have the right to know if companies are doing deals with these kinds of despots.  

“Instead of encouraging fossil fuel companies to bribe foreign dictators, Congress should focus on preventing corruption and fostering transparency.”