The Public Accounts Committee (PAC), which is charged with monitoring government financial affairs, has invited the companies to give evidence amid mounting public and political concern about tax avoidance by big international companies.

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Paul Leonard, vice president for Government Affairs of the Financial Services Roundtable's Housing Policy Council, says all of the discussion has given federal regulators more guidance to formulate their new statement on subprime lending, which will be finalized in May.

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Under the FairTax, the government would not collect information on the private financial affairs of the American people, and there would be no IRS for unscrupulous politicians to use as a weapon against their political rivals.

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