III 

112TH CONGRESS 

1ST SESSION S. RES. 111 

Expressing the sense of the Senate that Congress should reject any proposal 

for the creation of a system of global taxation and regulation. 

IN THE SENATE OF THE UNITED STATES 

MARCH 29, 2011 

Mr. VITTER submitted the following resolution; which was referred to the 

Committee on Finance 

RESOLUTION 

Expressing the sense of the Senate that Congress should 

reject any proposal for the creation of a system of global 

taxation and regulation. 

Whereas many proposals are pending in Congress— 

(1) to increase taxes; 

(2) to regulate businesses; and 

(3) to continue runaway Government spending; 

Whereas taxpayer funding has already financed major, ongoing bailouts of the financial sector; 

Whereas the proposed cap-and-trade system would result in 

trillions of dollars in new taxes and job-killing regulations; 


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•SRES 111 IS 

Whereas a number of nongovernmental organizations are proposing that a cap-and-trade regulatory system be adopted 

on a global scale; 

Whereas the ‘‘outcome document’’ produced by the September 20–22, 2010, United Nations Summit on the Millennium Development Goals (MDGs) commits the nations 

of the world, including the United States, to supporting 

‘‘innovative financing mechanisms’’ to supplement foreign 

aid spending; 

Whereas the term ‘‘innovative financing mechanisms’’ is a 

United Nations euphemism for global taxes; 

Whereas the ‘‘Leading Group on Innovative Financing for 

Development,’’ a group of 63 countries, seeks to promote 

the implementation of ‘‘innovative financing mechanisms’’; 

Whereas a ‘‘Task Force on International Financial Transactions for Development’’ is working within the Leading 

Group and with the United Nations to propose and implement global tax schemes; 

Whereas ‘‘innovative financing mechanisms’’ are going to be 

on the agenda for the G8 and G20 summits in France 

in 2011; 

Whereas new international taxation and regulatory proposals 

would be an affront to the sovereignty of the United 

States; 

Whereas the best manner by which to overcome the economic 

downturn in the United States includes taking measures 

that would— 

(1) lower tax rates; 

(2) reduce Government spending; and 


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•SRES 111 IS 

(3) impose fewer onerous and unnecessary regulations on job creation; and 

Whereas the worst manner by which to overcome the economic downturn in the United States includes taking 

measures that would— 

(1) increase tax rates; and 

(2) expand government intervention, including intervention on a global scale: Now, therefore, be it 

1 Resolved, That it is the sense of the Senate that Con2 gress should reject any proposal for the creation of— 

3 (1) ‘‘innovative financing mechanisms’’ or glob4 al taxes; 

5 (2) an international system of government bail6 outs for the financial sector; 

7 (3) a global cap-and-trade system or other cli8 mate regulations that would— 

9 (A) punish businesses in the United 

10 States; and 

11 (B) limit the competitiveness of the United 

12 States; and 

13 (4) a global tax system that would violate the 

14 sovereignty of the United States. 

Æ 


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