A trio of senators have proposed legislation targeting overseas tax havens.According to a bill summary released by Sen. Carl Levin, D-Mich., such havens cost the United States upwards of $100 billion a year in lost tax revenues.

“The eyes of some people may glaze over when tax shelters and tax havens are discussed, but unscrupulous taxpayers and tax professionals clearly see illicit dollar signs,” said Levin, in a statement summarizing the bill.

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