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Kerry: Roadblock Republicans Defeat Kerry Provision to Close Offshore Tax Loopholes for Hedge Funds

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Location: Washington, DC


Kerry: Roadblock Republicans Defeat Kerry Provision to Close Offshore Tax Loopholes for Hedge Funds

Block Energy Tax Incentives, Middle Class Tax Relief

Sen. John Kerry today made the following statement on the 50-44 vote by the Senate to allow hedge funds to defer compensation overseas instead of offering energy tax incentives to Americans in need:

"This vote was a case study in the obstruction and obstinance that defines Senate Republicans and makes Americans coping with record gas prices hate Washington. Today, Republicans blocked tax incentives for renewable energy and tax relief for families and businesses struggling to make ends meet. We could've made possible $116 billion in tax relief if the Republicans were willing to close an egregious tax loophole allowing hedge funds to defer compensation offshore. This vote is proof positive that Senate Republicans are more interested in


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