US presidential candidate Sen. John Kerry

US Democratic Party presidential candidate Sen. John Kerry last night said he would shut down tax loopholes which allowed �$40 billion� to go to Bermuda.

Sen. Kerry, speaking during the second presidential debate with Republican President George W. Bush, made the claim after being questioned on how he would balance the US tax deficit.

�(Sen.) John McCain and I have a proposal, jointly, for a commission that closes corporate giveaway loopholes,� Sen. Kerry said. �We�ve got $40 billion going to Bermuda. We�ve got all kinds of giveaways. We ought to be shutting those down.�

Sen. Kerry, who also promised not to raise taxes for people earning less than $200,000 a year, targeted companies that moved their headquarters here.

Last week, he attacked Bermuda again, issuing a press release that said if elected president he would �close loopholes like the Bermuda tax loophole that allow companies to escape taxes by taking advantage of complicated international tax rules�.

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