This bill is known as H. R. 3138. and it amends section 211 (b) of the Internal Revenue Code in the manner in which I have indicated. The fact that since 1938 probably 250.000 nonresident aliens have been admitted to this country and in most instances are no doubt still in this country under temporary visas or passports may be news to most of the Members of the House. and it may never have occurred to you. my colleagues. that a large number of these people were people of considerable means. Under the Internal Revenue Code as it is now written a nonresident alien may freely engage in transactions on the stock market through a resident broker. commissioned agent. or custodian and provided he does not maintain an office. is not subject to our incometax or capitalgainstax laws. Nor for that matter subject to any other incometax law. So. here we have a situation in which. as a result of the inability on the part of these people to return to their native lands by reason of the war. they are not only enjoying the sanctity of protection offered by our friendly and hospitable shores but are doing it at the expense of the American taxpayer. a situation which I am sure these refugees themselves do not wish to take advantage of. It is just regrettable and would be corrected if H. R. 3138 were adopted.
Keywords matched
visas refugees