Thomas Jones was also quoted in Business Insurance on May 11 that the Obama plans to curb offshore tax breaks contain "nothing specific . . . that would seem to impact offshore captives in any particular manner." Mr. Jones explained that for 20-plus years IRS rules have blocked U.S. tax deferral by offshore captive insurers. "Tax deferral and tax avoidance in captives don't mix," he stated. "Almost never do captives enjoy tax avoidance or tax deferral by going offshore."