After the September 11, 2001 terrorist attacks, the United States adopted a preventive approach to combating all forms of terrorist activity. Efforts to combat the financing of terrorism (CFT) are a central pillar of this approach. Cutting off financial support to terrorists and terrorist organizations is essential to disrupting their operations and preventing attacks. To that end, the U.S. government has sought to identify and disrupt ongoing terrorist financing (TF) and to prevent future TF. The law enforcement community, including various components of the U.S. Departments of Justice,...

In the FY 2017 Budget, the President proposes a number of reforms to the Code that would make our tax system more efficient, simpler, and more equitable. With respect to the taxation of business income, the number of special deductions, credits, and other tax preferences provided to businesses in the Code has expanded significantly since the last comprehensive tax reform effort nearly three decades ago. Such tax preferences help well-connected special interests but do little for economic growth. To be successful in an increasingly competitive global economy, the Nation cannot afford to...