WashingtonWatch.com - H.R. 3367, The Virgin Islands Improvement Act of 2007

Comment by James (May 12, 2008, 01:00:00)

Mon, 12 May 2008 00:00:00 EDT

Congress needs to take more innovative approaches like this one to solving its uncontrolled overspending and overtaxing (really fleecing) the public that it's supposed to be protecting....

Comment by Phil (December 27, 2007, 01:00:00)

Thu, 27 Dec 2007 00:00:00 EST

9800 earmarks on this last spending bill and no indication that this bill was among them? Is something wrong or are the updates slow in being recorded???...

Revision by webmaster (September 24, 2007, 01:00:00)

Mon, 24 Sep 2007 00:00:00 EDT

H.R. 3367 would amend the Internal Revenue Code of 1986 to assist in the recovery and development of the Virgin Islands by providing for a reduction in the tax imposed on distributions from certain retirement plans' assets which are invested for at least 30 years, subject to defined withdrawals, under a Virgin Islands investment program.

Detailed Summary

Virgin Islands Improvement Act of 2007 - Amends the Internal Revenue Code to provide for a reduction of taxes on distributions from certain retirement savings plans designated as being under investment by the Virgin Islands Investment Program for at least 30 years. Defines "Virgin Islands Investment Program" for purposes of this Act as a fund with managed amounts of less than $50 billion. Imposes a 1% annual tax on managed funds to benefit Virgin Island infrastructure development.

Status of the Legislation

Latest Major Action: 8/3/2007: Referred to House committee. Status: Referred to the House Committee on Ways and Means.

Points in Favor

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Points Against

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Comment by GERARD SHANAHAN (September 13, 2007, 01:00:00)

Thu, 13 Sep 2007 00:00:00 EDT

It seems to me that such a step would be very helpful for the Virgin Islands, without any tax costs...

Comment by JAMES FLIBBER 11 (September 7, 2007, 01:00:00)

Fri, 07 Sep 2007 00:00:00 EDT

As I see it, it is something that will assist the Virgin Islands to make much needed improvements to infrastructure in a very cost effective way for the government --My wife and I are all for this type of fundingc...

Comment by Charlie (September 2, 2007, 01:00:00)

Sun, 02 Sep 2007 00:00:00 EDT

Great idea that will do a lot of good...

Comment by mark posey (August 30, 2007, 01:00:00)

Thu, 30 Aug 2007 00:00:00 EDT

what a nice, cost effective way, to help a neighbor. no one gets hurt....

Comment by j shanahan (August 29, 2007, 01:00:00)

Wed, 29 Aug 2007 00:00:00 EDT

Much overdue improvements for the VI---------------will be very effective in restructuring the islands...

Comment by Waldo Flibber (August 29, 2007, 01:00:00)

Wed, 29 Aug 2007 00:00:00 EDT

Glad to see that some attention is being paid to the Virgin Islands-----------too long neglected...

Comment by Gregg Peirlonnibe (August 29, 2007, 01:00:00)

Wed, 29 Aug 2007 00:00:00 EDT

MY wife just returned from the Islands. She thinks it will help a lot...

Comment by cindy broen (August 29, 2007, 01:00:00)

Wed, 29 Aug 2007 00:00:00 EDT

nice to see we are finaly thinking of our close neighbors....

Comment by Bill Shanahan (August 29, 2007, 01:00:00)

Wed, 29 Aug 2007 00:00:00 EDT

Sounds like a good bill. I don't understand it all, but it will apparently raise money while relieving the US from total respomsibility...

Comment by Phil Berg (August 29, 2007, 01:00:00)

Wed, 29 Aug 2007 00:00:00 EDT

This seems like a great way to help bail out our financially strapped posession without using our taxes - being funded through investment. Sounds like a winner that won't cost us!...

Comment by RIDGEGOLF (August 29, 2007, 01:00:00)

Wed, 29 Aug 2007 00:00:00 EDT

SOUNDS LIKE A WIN WIN WIN. TAX GOEST TO TREASURY, INVESTORS GET TAX DEFERRAL, US VIRGIN ISLANDS GET PERMANANENT FUNDING FOR 30 YEARS. WHY WAIT FOR ANOTHER HURRICANE TO ACT?...

Revision by webmaster (August 4, 2007, 01:00:00)

Sat, 04 Aug 2007 00:00:00 EDT

Detailed Summary

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Status of the Legislation

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Points in Favor

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Points Against

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Revision by webmaster (August 4, 2007, 01:00:00)

Sat, 04 Aug 2007 00:00:00 EDT

Detailed Summary

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Status of the Legislation

Latest Major Action: 8/3/2007: Referred to House committee. Status: Referred to the House Committee on Ways and Means.

Points in Favor

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Points Against

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Status as of August 3, 2007

Fri, 03 Aug 2007 00:00:00 EDT

8/3/2007: Referred to House committee. Status: Referred to the House Committee on Ways and Means.

Status as of August 3, 2007

Fri, 03 Aug 2007 00:00:00 EDT

8/3/2007: Referred to House committee. Status: Referred to the House Committee on Ways and Means.