Bermuda Spent Big Bucks Lobbying Congress Report
By Mike Godfrey,
Tax-News.com, Washington
Bermuda's government and business community spent tens of thousands of dollars lobbying the US Congress this year, according to a Royal Gazette report published on Wednesday.
Citing US government disclosure records, the locally-based newspaper revealed that: 'Long-time government lobbyist Kenneth Levine was shown to have been paid $33,208 for the six-month period through April 29, 2002.' For that sum, according to the records, Mr Levine 'monitored Congress and Executive in the areas of investment and tax policy and contacted Congressional representatives on tax activity'.
The Royal Gazette also revealed that in terms of private sector involvement, it was the jurisdiction's insurance and reinsurance industry more than any other which sought to have its interests represented in Washington.
However, USA Today report released earlier this month revealed that Bermuda-based Tyco International also spent at least $270,000 this year on lobbyists employed to oppose Congressional moves to impose a federal contract ban on US companies which have chosen to relocate offshore.