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Washington DC February 1, 2017 – The US House of Representatives repealed a bipartisan transparency initiative that affects the oil, gas and mining sector by a vote of 235-187. The “Cardin-Lugar amendment” of the 2010 Dodd-Frank Wall Street Reform Act requires oil and mining companies to disclose financial activity and payments to governments in the countries where they operate. Transparency advocates hope the Senate will stop any repeal.
Eric LeCompte, Executive Director of the religious development organization Jubilee USA, releases the following statement:
“I’m saddened by the House vote. I think the House acted too hastily and many Representatives don’t understand how this action hurts poor people.
“In a post-financial crisis world we should be increasing transparency, not diminishing it.
“We believe the Senate can make the right decision to take us forward, but the vote will be close.”
Read more about the Cardin-Lugar amendment
Read the oped published on 1504 from Eric LeCompte, Jubilee USA executive director
Read the letter Jubilee USA’s executive director sent to Congress on the legislation