Mr. President. I rise today to introduce the Holocaust Era Assets Tax Exclusion Act of 1999. along with my colleagues Senators MOYNIHAN and SCHUMER. Mr. President. survivors of the Holocaust who had assets withheld from them by Swiss banks or others have finally received justice in the form of a settlement between the banks and the survivors attorneys in August 1998. The settlement was for $1.25 billion for survivors worldwide. This settlement will finally return the assets to survivors more than fifty years after they first entrusted them to the banks. In addition to these recipients. there are survivors who are needy and have received onetime payments from the Swiss Humanitarian Fund established by the Swiss government.
Keywords matched
Exclusion Act