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WASHINGTON, D.C. (November 16, 2017) – Congressman Ted Budd (R-NC) delivered a statement on the floor of the U.S. House of Representatives today in support of closing the Bermuda Insurance Tax Haven loophole. The loophole allows foreign-based insurers to shelter income overseas and avoid paying U.S. taxes. Congressman Budd has been a leader on this issue and sent a dear colleague letter to Ways and Means Committee Chairman Brady urging the closure of the loophole. Watch the full speech below.

Congressman Budd Speech on House Floor from Coalition for American Insurance on Vimeo.

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