A US Congressman has moved to block American firms from relocating their headquarters offshore to avoid taxes by refiling a bill that he said would result in an additional $5 billion being collected by the US Treasury at a time when the budget is being stretched by an increasing defence budget and the Hurricane Katrina recovery operation.

?Today marks the third time in as many Congresses that I have introduced the Corporate Patriot Enforcement Act,? Massachusetts democratic lawmaker Richard E. Neal said during a floor speech.?This legislation is designed to slam the door shut on a truly disgraceful corporate tax shelter.?

?Over the years, dozens of American companies have filed papers to trade in their US corporate citizenship for citizenship in tax haven countries like Bermuda,? Neal said. ?By washing their hands of their US citizenship, they are able to stop paying taxes on their foreign profits, draining more than $4 billion out of US coffers.?

The bill had 145 co-sponsors two years ago. Congressman Neal fell 32 signatures short of the 218 signatures needed on a petition to mandate a floor vote back then.

Past efforts expired within the two-year period of each Congress.