[Congressional Record Volume 141, Number 141 (Tuesday, September 12, 1995)]
[House]
[Page H8731]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


           CONGRESS MUST CLOSE THE BILLIONAIRE'S TAX LOOPHOLE

  (Mr. WARD asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. WARD. Mr. Speaker, I rise today once again to address an issue 
that this Congress has yet to face, that is the issue of billionaire 
expatriates.
  Mr. Speaker, on numerous occasions the majority has refused 
permanently to close a tax loophole which enables billionaires to 
renounce their U.S. citizenship in order to avoid paying taxes.
  To add insult to injury, the Washington Post reported yesterday that 
the State Department, has received an application from the country of 
Belize to open a diplomatic post in Sarasota, FL, exclusively for the 
convenience of billionaire expatriate Kenneth Dart, whose family 
happens to live in Sarasota. The arrangement would allow Mr. Dart to 
continue to avoid paying U.S. taxes, while living with his family in 
the United States.
  Mr. Speaker, I have sent a letter to Secretary Christopher urging him 
to deny the permission to open this office. Mr. Speaker, we must close 
this loophole.

                          ____________________