TPA Reacts to New Rules from U.S. Treasury on Tax Inversions

Michi Iljazi

September 24, 2014

On Monday, the Obama Administration and the United States Treasury Department took executive action towards the practice of tax inversions. Taxpayers Protection Alliance (TPA) President David Williams released the following statement today in reaction to the move by Treasury Secretary Jack Lew:

“The Obama Administration has once again shown that they don’t understand the real problems of tax policy in the United States, and more specifically the corporate tax. The executive action announced by Secretary Lew on Monday aimed at punishing companies who engage in tax inversions is not only the wrong move for the private sector, but it continues the willful ignorance of the federal government to fix our corporate tax structure. It’s been more than two years since the United States surpassed Japan in reaching the highest effective corporate tax rate in the world, and in those two years we’ve seen nothing but demonizing of the private sector from the Obama Administration and their allies in Congress. There should not be new rules and regulations that will make it more difficult for companies to compete in the global economy. There should be drastic reform of the corporate tax rate to reduce the cost of doing business in America so that jobs can be created and companies can be rewarded for their innovation. If President Obama is serious about keeping U.S. businesses in the U.S., he should support comprehensive tax reform, and specifically call for an immediate reduction in the corporate tax rate.  TPA will continue to press for bipartisan, bicameral action from Congress on reducing the corporate tax, and in turn fixing the real problem that is plaguing business.”

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