For Immediate Release
Sunday, May 20, 2001

CFP Applauds U.S. Delegation To OECD Meeting;
Announces New Competitive Tax Policy Campaign

     PARIS (MAY 20, 2001) - The Organization for Economic Cooperation and Development's so-called "harmful tax competition" effort suffered a serious setback at the organization's recently concluded ministerial meeting. In a dramatic reversal from last year, the end-of-session communiqué issued by the OECD's member nations contained no endorsement of the organization's attack on low-tax countries. Instead, the communiqué merely noted that the project existed.

     "The Bush Administration deserves appreciation from the world's taxpayers," said Andrew Quinlan, President of the Center for Freedom and Prosperity. Quinlan headed a delegation that traveled to Paris to monitor the OECD meeting. "Thanks to the good work of the president's economic policy team, we are on the verge of winning the battle for tax competition, financial privacy, and fiscal sovereignty," he said.

     Quinlan cautioned against celebration, however, saying that "We have won an important battle, the war is not over. We must redouble our efforts and continue to work with Congress and the Bush administration to defend America 's national economic interests. Over the next few weeks we will be launching a new competitive tax policy campaign that includes grassroots education and activism as well as seminars on tax competition, financial privacy and fiscal sovereignty."

     In Washington, Daniel Mitchell of the Heritage Foundation agreed, saying "Career bureaucrats at the U.S. Department of Treasury and the IRS are desperately fighting to resuscitate the OECD agenda. That is why shifting to a territorial, or source-based tax system, is the only way to achieve a permanent victory. This is the right way to eliminate tax evasion. I look forward to working with Andrew to promote this kind of long-overdue tax reform."

     The Center for Freedom and Prosperity, founded just six months ago, is a non-profit organization based in Washington, D.C. The Center has been leading the fight, both domestically and internationally, against the OECD's misguided "harmful tax competition" project.

     For further information, please contact the Center at 202-285-0244 or email us at press@freedomandprosperity.org.Our web page is: www.freedomandprosperity.org

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