[Congressional Record Volume 141, Number 61 (Monday, April 3, 1995)]
[House]
[Page H4043]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


                      TAX BREAKS FOR BILLIONAIRES

  (Mr. ABERCROMBIE asked and was given permission to address the House 
for 1 minute and to revise and extend his remarks.)
  Mr. ABERCROMBIE. Mr. Speaker, last week a bill passed on tax 
deductions for health benefits for the self-employed. Unfortunately we 
had a containment; contained within that bill is an exemption to allow 
billionaires to escape paying their taxes.
  Now, I understand they are going to give up their citizenship in 
order to not pay their taxes. My understanding is the present 
conference report is being held in the Senate over that language. I 
certainly hope that is the case.
  In the meantime, having succeeded at that, we now find, I understand, 
that there is a bill circulating in this House to give one of these 
billionaires who renounced his American citizenship, who owns a foreign 
cruise ship, a tax exemption, tax deduction, for business meals and 
entertainment, and that is contained in the bill.
  I can assure you, if the gentleman from Texas [Mr. Armey] says, as he 
has, that he will fight the minimum wage with every fiber in his body, 
I can assure this House that I will fight this billionaire who has 
renounced his American citizenship to have a foreign-flag, foreign-
crewed, foreign-owned cruise ship that takes money from Americans and 
get a tax break on top of it.
  You can bet I am going to fight that with every fiber in my body.

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