July 17, 2008 Kerry on tax evasion: 'Woefully behind the curve' Play video

(NECN: Washington) - The Senate wants to know if some of the country's wealthiest people are cheating the government out of billions of dollars. Lawmakers opened hearings today into possible tax evasion.

Massachusetts Senator John Kerry said we are "woefully behind the curve." Kerry asked why known financial tax evasion/wealth-hiding entities are able to access financial systems in the world so easily.

Kerry said there should be a greater push for international transparency and accountability.