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Traders stand outside the New York Stock Exchange even as the US goes through major economic turmoil.
 
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Say no to Bangalore, yes to Buffalo: Obama

Under new measures, American companies would also have to disclose before the IRS the details of the income American citizens are generating in overseas accounts.

"For years, we've talked about stopping Americans from illegally hiding their money overseas, and getting tough with the financial institutions that let them get away with it," he said.

Image: Traders stand outside the New York Stock Exchange even as the US goes through major economic turmoil.
Photographs: Eric Thayer/Reuters
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