Don’t Follow the Left’s Upside Down Approach To Inversions

This month, a coalition of free market supporters sent Treasury Secretary Jack Lew a letter urging him to meaningfully address tax inversions, in which companies merge with foreign counterparts and headquarter abroad, by working with Congress to pass corporate tax reform. The Treasury’s actions so far – three rounds of new tax inversion regulations over the past 19 months – won’t solve the problem.

In recent months, major American companies like Johnson Controls, Baxalta and Pfizer have announced plans to merge with foreign counterparts and relocate abroad, taking economic activity with them. More than a dozen have announced inversion plans over the past year and a half, a pace that will surely continue without tax reform.

The letter, of which my organization is a signer, stands in stark contrast to the fifty-five progressive activist groups that recently cosigned a letter to Secretary Lew pleading with him “to take prompt regulatory action that would prevent” tax inversions. Prompt action indeed. Days later, the Treasury introduced the most stringent regulations against tax inversions to date.

Read more . . . 

Nelson, Lisa B. (2016, April 14). Don’t Follow the Left’s Upside Down Approach To Inversions. The Daily Caller. Retrieved from