As a senior member of the House Ways and Means Committee, I questioned U.S Treasury officials and tax law experts about banking secrecy practices that allow the very wealthy to conceal more than $1.5 trillion in offshore tax havens.

These tax havens cost ordinary taxpayers up to $50 billion a year in lost revenue, roughly half of the total estimated tax gap caused by corporate and individual overseas tax evasion. It strikes at the fundamental fairness of the tax code for the very wealthy to dodge taxes being paid by every firefighter, police officer, and small business owner in Central Texas.

You can watch my discussion of these issues online by clicking here.