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Another Day, Another Question About Charles Rangel
By
Jen Chung
Published Nov 25, 2008
Modified Nov 25, 2008
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By
Jen Chung
Published Nov 25, 2008
Modified Nov 25, 2008
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Today in the ongoing examination into Rep. Charles Rangel's dealings, the NY Times wonders--on the front page-- about a pledged $1 million donation to a City College school of public service (being named after Rangel) from a oil executive. Eugene Isenberg, who has paid $200,000 of the donation so far, heads an oil drilling company Nabors Industries which dodged "tens of millions" in retroactive tax payments, thanks to Rangel. Nabors' practice of operating a Caribbean office to "reduce their federal tax payments" was targeted, but Rangel worked to keep the tax shelter--"Mr. Rangel said he stood with Nabors because, as much as he was offended by the company’s attempts to get around some of its United States taxes, he thought it wrong to impose a retroactive tax increase." Naturally, Rangel and Isenberg deny any wrongdoing , but read the article for other details--it's fascinating (and long).
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charles rangel
donation
House Ways and Means
tax shelter
Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
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Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
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