DeLauro Statement on Burger King Inversion

NEW HAVEN, CT—Congresswoman Rosa DeLauro (D-CT) released the following statement today on Burger King’s announcement that it will invert with Canadian-based Tim Horton’s:

“Yet another company plans to engage in a tax gimmick and dodge taxes by moving their business out of the country. This needs to come to an end. If Congress is unwilling to take action—which it has shown little appetite for—President Obama should act to stop companies from moving their mailbox overseas to avoid paying their fair share of U.S. taxes. Public opinion stopped Walgreens from taking similar action and I urge American consumers to make their voices heard once again.”

DeLauro is author of the No Federal Contracts for Corporate Deserters Act. That legislation would bar contracts from going to businesses that reincorporate overseas, are majority-owned by shareholders of the old U.S. corporation, and do not have substantial business activities in the foreign country in which they are incorporating. It would also strengthen current law by curbing most subcontracts with inverted corporations.


###