Friday, September 16, 2005

Corzine's $5 Million Vote

An article in Thursday's Record (Bergen) reports that New Jersey Senator and Democratic nominee for governor Jon Corzine voted to give himself and a select set of fellow millionaire investors a lucrative tax break from their controversial takeover of a Japanese bank.

Corzine cast that vote in March 2004 as a member of the Senate Foreign Relations Committee, which was considering a complex tax treaty between the United States and its closest Pacific Rim ally. The vote was unanimous.

The treaty included a narrowly crafted clause that gave a tax break to an exclusive group who had invested in failing banks subsidized by the Japanese government. It saved Corzine and his partners millions of dollars in tax payments.
Check out the full story.

Read Corzine foe Doug Forrester's statement in response to the article here.

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