March 20, 2002
FOR IMMEDIATE RELEASE
[United States Congress]
 
WASHINGTON, D.C.—FALEOMAVAEGA BILL TO EXEMPT ASG BOND INTEREST FROM TAXATION PASSES RESOURCES COMMITTEE
 
     Congressman Faleomavaega announced today that a bill he introduced to exempt the interest on ASG bonds from taxation by states, municipalities and other territories passed the House Committee on Resources by unanimous consent.

     “This bill has now been through the full Resources Committee and a Judiciary Committee subcommittee without objection,” Congressman Faleomavaega said.  “I will now focus my attention on getting the bill through the full Judiciary Committee and then on to the House floor for consideration.”

     “As I have noted before, there is strong support in American Samoa for this legislation.  The Governor has indicated that he supports this legislation,” the Congressman said.  “ASPA has also said that it would like to sell bonds to purchase new diesel generator sets to accommodate our growing population.  This legislation will lower the interest costs of these prospective sales and will also enable the local government to address deficiencies in its current infrastructure.”

     “I want to thank Governor Sunia for his support,” Congressman Faleomavaega said.  “I also want to thank Chairman Jim Hansen and Congressman Nick Rahall, Ranking Member on the Resources Committee, for their support of this bill.  Given the positive response to this legislation, I am hopeful that we will be able to get this bill through both houses of Congress this year.”
 

 
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