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NEAL, MENENDEZ INTRODUCE BILLS TO CLOSE TAX HAVEN LOOPHOLE Favoring Foreign-Controlled Insurers

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FOR IMMEDIATE RELEASE - October 12, 2011 / October 12, 2011): Congressman Richard E. Neal, Ranking Member of the House Ways and Means Select Revenue Subcommittee, and Senator Menendez (D-NJ), member of the Senate Finance Committee, today introduced bills in both the House and Senate to close an unintended tax loophole that costs taxpayers billions of dollars and provides foreign-owned insurers a s...

Neal introduces bill to close reinsurance tax loophole

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Click here to download the technical explanation of the bill. Congressman Richard E. Neal, Ranking Member of the Subcommittee on Select Revenue Measures, introduced a bill today in the U.S. House of Representatives that would close the reinsurance tax loophole. The following is a transcript of his floor statement. Mr. Speaker, today I am pleased to come before the House to introduce legislation en...

Tornado Rebuilding will Strengthen Massachusetts

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By RICHARD E. NEAL | D-Springfield, 2nd Congressional District, U.S. Representative and JOHN KERRY | D-Mass., senior U.S. Senator Together, we’ve represented Springfield and Western Massachusetts in Congress for a combined 48 years. In all those years, we’ve never seen anything in Massachusetts that equaled the devastation from the tornadoes which ripped across Massachusetts last month. Just hours...

Neal Opening Statement at Hearing on Inbound Investment

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June 23, 2011 Mr. Chairman, thank you for calling this important hearing today. Our committee has been examining the impact of tax reform on U.S. multinational companies. I'm pleased to now shift gears and focus on the equally important topic of the taxation of foreign-owned companies operating in the United States. In order to remain competitive in a global economy, foreign investment in the Uni...