Heading-off potential trouble for Bermuda?s booming international business sector is the mission of Finance Minister Paula Cox as she meets a second powerful US congressmen in as many days today.

And Bermuda appears to have a strong chance of maintaining its good relationship with the US due to long-standing friendships between the Island?s political leaders and those about to assume commanding positions Stateside.Ms Cox is in Washington DC for top level talks with members of America?s ?tax-writing committee? to explain the mechanics of Bermuda?s economy and the beneficial mutual arrangements that have flourished over the years.

The mid-term elections have given control of the Congress and US Senate to the Democrats, opening up the potential for new tax rules to be introduced that might harm offshore business centres like Bermuda by cutting into the benefits currently enjoyed by US-centric insurance, re-insurance and investment companies.

The Democrats have traditionally been less supportive than Republicans of regulations that allow US companies, or those who primarily serve the US market, from escaping federal tax requirements by being based offshore.When the Democrats assume control of the Congress and Senate in the new year there are indications lobbyists will seek to get politicians to change the rules.

Ms Cox reported last night her talks in Washington indicate there is nothing ?on the radar? that would potentially damage the Island?s economy.

However, a grassroots Democrat activist from Hawaii John Lundin has already spoken at length to the Royal Gazette in past weeks to state his intention to lobby against the US/Bermuda tax set-up and seek to make it a platform issue in the 2008 Presidential race.

The threat of legislation to end what are perceived to be an expatriation of profits to so called ?low tax? jurisdictions by US corporations is being taken seriously by the Government,? said Ms Cox.The Deputy Premier is in the US capital to hold talks today with New York Congressman Charles Rangel, who is regarded as a friend of Bermuda and has met many previous Premiers from the Island.

Yesterday Ms Cox met Georgia Congressman John Lewis. Both are sitting members of the powerful House Ways and Means Committee and as from January Mr. Rangel will be committee chairman.Ms Cox told The Royal Gazette there was currently no proposal being considered by the US authorities that would alter the present US/Bermuda situation but any perceived threat to Bermuda?s national economic interest is treated seriously.

Of Congressman Rangel she said: ?He is a friend of Bermuda and has a real familiarity with Bermuda and has met a number of past Premier over the years. In fact he commented when he first met me a few years ago that he recalled my father who was a friend.?

Likewise, the Finance Minister has come across Congressman Lewis at the Congressional Black Caucus meeting she attended with former Premier Alex Scott and said he too was ?warmly supportive of Bermuda.?

Ms Cox was struck by Mr. Lewis? ?humility, down-to earth manner and willingness to help.?

Mr. Lewis played a major, historical part in the US Civil Rights movement appearing alongside the likes of Martin Luther King Jr. and Rev. Abernathy in the 1960s. He also has familiarity with Bermuda, having visited the Island and knowledge of the close ties between Bermuda and Atlanta in his constituency.

?He has collateral power and influence notwithstanding his own personal credentials. He will serve on House Ways and Means Committee and is anticipated to be chair of subcommittees on oversight and investigations,? said Ms Cox.

?So it is conceivable if there was ever an investigation into a particular sector like IRS or treasury, and if there was a circumstance in which there was even an investigation into anything remotely connected to Bermuda, he would be well placed to add value. Accordingly, continuing to foster and to build a relationship with him in Bermuda?s national economic interest would be productive.?

The warmth of the relationship was underscored by Ms Cox, as she added: ?The friendliness and the willingness to talk as friends with a common interest was encouraging. What struck me was his down-to-earth, no-nonsense and helpful approach. He seemed a thoroughly pleasant person, humble, accessible, approachable and very likeable.?

Speaking of her planned meeting today with Congressman Rangel, the Deputy Premier said: ?When he met me a few years ago, and again this year, he always commented on his recollection of the former Minister of Finance, my father, and their positive relationship.?She said Mr. Rangel is viewed by some as the most powerful African-American in political history when he takes over chairmanship of the House Ways and Means Committee.

At the present time Ms Cox feels assured there is no immediate danger to Bermuda?s economy from the switch of power in the US Congress and Senate.

She said: ?It was helpful to have confirmed by Congressman Lewis, further to the analysis provided by our lobbyist given his dialogue with US policymakers, that Bermuda is not on the radar screen in terms of any action currently being contemplated that is adverse to our national economic interest.?