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Business Roundtable Statement on Inversions

Washington — Business Roundtable President John Engler issued the following statement responding to the latest U.S. Treasury action regarding inversions and President Obama’s remarks today: 

“Unilateral action by the Treasury, along with heated political rhetoric, are no substitute for cooperative, bipartisan legislation to address the non-competitive U.S. tax code.
 
“Everyone, including the President, knows that real reform is the only way to stop companies from establishing their tax headquarters in foreign countries via ‘inversion.’
 
“Additional, stop-gap regulation would fail to address the systemic anti-competitive nature of the U.S. tax system. ‘Inversions’ are not the answer either, but they are a self-help response to an outdated tax system that needs to be fixed.
 
“Direct engagement between the Administration and Congress on tax reform is long overdue.”
 

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