Obama: new tax rule will fight corruption, help economyWASHINGTON (Reuters) - U.S. President Barack Obama said on Friday a long-delayed rule requiring the financial industry to identify the real owners of companies will help fight corruption and tax evasion and boost the economy. His administration on Friday issued the Customer Due Diligence rule in the works since 2012 and proposed legislation meant to stop prevent criminals from using shell companies to evade taxes, launder money, and finance terror.  “These actions are going to make a difference,” Obama told reporters. He said they would help the administration to do a better job of tracking financial flows and making sure companies are “paying the taxes they owe rather than using shell corporations and offshore accounts to avoid doing the things that ordinary Americans are doing every day.” Obama also called on Congress to pass legislation that requires all companies formed in the United States to report information to the financial crimes enforcement network at the Treasury Department.   “That’s going to help law enforcement better investigate and prevent financial crimes,” Obama told reporters. Obama also urged Congress to raise the federal minimum wage, pass new trade agreements, and simplify the tax code.  “Only Congress can fully close the loopholes” that wealthy individuals or corporations can take advantage of, Obama said. He singled out Senator Rand Paul, a Republican and libertarian, who in years past has single-handedly blocked tax treaties or treaty updates between the United States and Spain, Japan, Britain, and other countries. Paul has been “a little quirky on this issue,” Obama said, and urged him “to stop blocking the implementation of tax treaties.”  Paul’s office did not immediately comment. politicsNews
obama new tax rule fight corruption help economywashington reuters president barack obama said friday rule requiring financial industry identify real owners companies help fight corruption tax evasion boost economy his administration friday issued customer due diligence rule works since proposed legislation meant stop prevent criminals using shell companies evade taxes lander money finance terror these actions going make difference obama told reporters he said would help administration better job tracking financial flows making sure companies paying taxes owe rather using shell corporations offshore accounts avoid things ordinary americans every obama also called congress pass legislation requires companies formed united states report information financial crimes enforcement network treasury department that going help law enforcement better investigate prevent financial crimes obama told reporters obama also urged congress raise federal minimum wage pass new trade agreements simplify tax code only congress fully close loopholes wealthy individuals corporations take advantage obama said he singled senator rand paul republican libertarian years past blocked tax treaties treaty updates united states spain japan britain countries paul little quirky issue obama said urged stop blocking implementation tax paul office immediately comment politicsnews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: Obama: new tax rule will fight corruption, help economyWASHINGTON (Reuters) - U.S. President Barack Obama said on Friday a long-delayed rule requiring the financial industry to identify the real owners of companies will help fight corruption and tax evasion and boost the economy. His administration on Friday issued the Customer Due Diligence rule in the works since 2012 and proposed legislation meant to stop prevent criminals from using shell companies to evade taxes, launder money, and finance terror.  “These actions are going to make a difference,” Obama told reporters. He said they would help the administration to do a better job of tracking financial flows and making sure companies are “paying the taxes they owe rather than using shell corporations and offshore accounts to avoid doing the things that ordinary Americans are doing every day.” Obama also called on Congress to pass legislation that requires all companies formed in the United States to report information to the financial crimes enforcement network at the Treasury Department.   “That’s going to help law enforcement better investigate and prevent financial crimes,” Obama told reporters. Obama also urged Congress to raise the federal minimum wage, pass new trade agreements, and simplify the tax code.  “Only Congress can fully close the loopholes” that wealthy individuals or corporations can take advantage of, Obama said. He singled out Senator Rand Paul, a Republican and libertarian, who in years past has single-handedly blocked tax treaties or treaty updates between the United States and Spain, Japan, Britain, and other countries. Paul has been “a little quirky on this issue,” Obama said, and urged him “to stop blocking the implementation of tax treaties.”  Paul’s office did not immediately comment. politicsNews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: obama new tax rule fight corruption help economywashington reuters president barack obama said friday rule requiring financial industry identify real owners companies help fight corruption tax evasion boost economy his administration friday issued customer due diligence rule works since proposed legislation meant stop prevent criminals using shell companies evade taxes lander money finance terror these actions going make difference obama told reporters he said would help administration better job tracking financial flows making sure companies paying taxes owe rather using shell corporations offshore accounts avoid things ordinary americans every obama also called congress pass legislation requires companies formed united states report information financial crimes enforcement network treasury department that going help law enforcement better investigate prevent financial crimes obama told reporters obama also urged congress raise federal minimum wage pass new trade agreements simplify tax code only congress fully close loopholes wealthy individuals corporations take advantage obama said he singled senator rand paul republican libertarian years past blocked tax treaties treaty updates united states spain japan britain countries paul little quirky issue obama said urged stop blocking implementation tax paul office immediately comment politicsnews