Controversial legislation that would bar foreign-owned insurers from moving their U.S. earnings into so-called “tax havens” through a reinsurance transaction with an offshore affiliate was introduced late last month in the House of Representatives.

The bill–H.R. 3424, introduced by Rep. Richard Neal, D-Mass., who chairs the Subcommittee on Select Revenue Measures of the House Ways and Means Committee–prompted a flurry of responses from groups and individuals on both sides of the issue.

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