[Congressional Record Volume 148, Number 23 (Wednesday, March 6, 2002)]
[House]
[Page H690]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                       STOP CORPORATE EXPATRIATES

  (Mr. NEAL of Massachusetts asked and was given permission to address 
the House for 1 minute and to revise and extend his remarks.)
  Mr. NEAL of Massachusetts. Mr. Speaker, in the 6 months since the 
devastating attacks of September 11, we have seen some of the most 
heart-warming images of our American family pulling together to support 
one another. While Congress grapples with the tough decisions on how to 
pay for this war against terrorist and enhanced homeland security and 
other pressing national priorities, one member of the American family 
is losing its commitment. I quote, ``Maybe patriotism needs to take a 
back seat to improve our earnings.''
  Mr. Speaker, these were the disturbing words of one aggressive 
accountant a mere 3 months ago urging her corporate clients to sneak 
out of the U.S. in the dark of night to avoid paying income tax. For a 
mere $27,000 to rent a post office box offshore, one U.S. corporation 
has avoided $40 million a year in corporate income taxes. If these were 
individuals doing this, the American taxpayers would be outraged.
  Mr. Speaker, join me in shutting down this loophole exploited by 
corporate expatriates before one more American company decides to 
shelve the Stars and Stripes to save some money on the bottom line by 
avoiding corporate income tax.

                          ____________________