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According to the International Monetary Fund, an estimated $7.6 trillion is hidden in tax havens, also known as offshore financial centers. This money is not taxed by the governments where it is held, which can lead to significant losses in tax revenue for those countries.
Bringing this money back to the US could generate billions of dollars in tax revenue and help fund important public programs and services. Additionally, closing tax loopholes that allow for these havens can help level the playing field for honest businesses and individuals who pay their fair share of taxes.