For Immediate Release
November 21, 2000

Group Formed to Defend Taxpayers
From International Threats

Center for Freedom and Prosperity to Kick-Off at Miami Conference

     WASHINGTON, DC – Responding to efforts by international bureaucracies, the Center for Freedom and Prosperity has been formed to protect tax competition, financial privacy, and fiscal sovereignty. The Center for Freedom and Prosperity's immediate priority is to lead the fight against the so-called "harmful tax competition" initiative of the Paris-based Organization for Economic Cooperation and Development (OECD).

     Acting at the behest of high-tax European nations, the OECD has threatened financial protectionism against nations with low-tax policies if they don't change their laws to make it easier for Europe's welfare states to collect more revenue.

     The Center for Freedom and Prosperity has created the Coalition for Tax Competition, which will fight for competitive international markets. Working with targeted governments, financial institutions, multi-national businesses, and interested individuals, the Coalition for Tax Competition will fight against proposals that make it easier for politicians to prop up burdensome tax systems by undermining financial privacy and trampling on fiscal sovereignty.

     The Center for Freedom and Prosperity's first public event will be a briefing at the Caribbean/Latin America Action conference in Miami on December 7 <http://www.claa.org/conference00_daily_events.html>. Center for Freedom and Prosperity President Andrew Quinlan and Board Chairman Daniel Mitchell will brief attendees on the threat to the region's financial services industry.

     "Tax competition and financial privacy should be celebrated, not  persecuted," said Quinlan. Mitchell added, "Europe's welfare state politicians resent the loss of jobs and capital to the United States. If the OECD succeeds in bullying small nations in the Caribbean, they will then go after bigger targets such as Switzerland, Singapore, Ireland, and America."

     The Center for Freedom and Prosperity is a nonprofit independent organization created to promote market liberalization.The Center was founded by Mitchell, senior fellow at The Heritage Foundation, and Quinlan, a former senior aide to Congress' Joint Economic Committee.

     For more information please contact the Center for Freedom and Prosperity by calling 202-285-0244 or e-mailing info@freedomandprosperity.org.

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