DeLauro Statement on Treasury Department’s New Actions on Inversions

WASHINGTON, DC (April 4, 2016) — Congresswoman Rosa DeLauro (CT-03) today released the following statement regarding new actions by the U.S. Department of the Treasury, which would help stop companies from engaging in corporate inversions.

"The Treasury Department's new actions on inversions are a welcomed step in stopping companies from abusing the United States' tax system for corporate gain. After building their businesses in the United States, using our infrastructure, education, and workforce, these companies have an obligation to pay their taxes. We cannot continue to allow these corporations to pretend they are American while reaping the benefits this country has to offer, yet claim to be another nationality when the tax bill comes.

"Last year I urged the Treasury Department to use their existing authority under Section 385 of the Internal Revenue Code to curb earnings stripping and corporate inversions. The proposed rule announced today does just that. Congress should follow the Treasury Department's lead and pass the No Federal Contracts for Corporate Deserters Act, which would ban inverted corporations from receiving federal contracts."

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