Skip to main content
Republicans Can Embrace Much of Biden’s Anticorruption Plan
U.S. President Joe Biden delivers closing remarks for the White House's virtual Summit For Democracy in the Eisenhower Executive Office Building on December 10, 2021 in Washington, DC. (Photo by Chip Somodevilla/Getty Images)
U.S. President Joe Biden delivers closing remarks for the White House's virtual Summit For Democracy in the Eisenhower Executive Office Building on December 10, 2021 in Washington, DC. (Photo by Chip Somodevilla/Getty Images)

Republicans Can Embrace Much of Biden’s Anticorruption Plan

Nate Sibley

Kleptocracy deprives the developing world of trillions of dollars each year, fueling poverty and conflict while entrenching powerful regimes in China, Russia, Iran and Venezuela. From the failure in Afghanistan to the unopposed expansion of Beijing’s Belt and Road Initiative, corruption plays a pervasive role in undermining U.S. foreign policy and national security.

The Biden administration last week released a new anticorruption strategy and highlighted the issue as a pillar of the U.S.-led Summit for Democracy. The strategy contains dozens of initiatives, including reforms such as broadening anti-money-laundering regulations beyond the banking industry and criminalizing bribes of American companies by foreign officials.

Conservatives might raise an eyebrow at some proposals in Mr. Biden’s strategy and in the Enablers Act before Congress, which would increase regulation of some U.S. professions, including investment managers and real-estate agents. But Mr. Biden’s new strategy is less a progressive agenda in disguise than a compendium of existing congressional initiatives with bipartisan support. The proposal could provide a future Republican administration with tools to get tougher on kleptocrats. Moreover, surrendering the corruption fight to progressives would be a gift to the kleptocrats in Beijing, Moscow, Tehran and Caracas, not to mention the terrorist groups and drug cartels whose illicit activities rely on co-opting corrupt officials and exploiting opaque financial networks.

Read the full article in the Wall Street Journal

Related Articles

2021 Annual Report

Hudson Institute

2021 began with most of the United States still shuttered by the COVID-19 pandemic— and ended with most of the world on edge due to the massing of Rus...

Continue Reading

Counterbalance | Ep. 44: Interpreting Israel’s Domestic Politics

Michael Doran & Jonathan Schachter

On June 20, Israeli Prime Minister Naftali Bennett and Foreign Minister Yair Lapid announced their intention to dissolve the Knesset, teeing up the fi...

Continue Reading

Now Is the Time to Expose Chinese Corruption

Nate Sibley

When Xi Jinping in March banned senior Communist Party officials and their families from owning significant overseas assets, many took it as a sign th...

Continue Reading