Van Hollen: After Renouncing U.S. Citizenship, Mylan is Trying to Have Its Cake and Eat It Too with Request for Help from FTC

Press Release

Today Maryland Congressman Chris Van Hollen, Ranking Member of the House Budget Committee, issued the following statement following reports that Mylan, a company which completed an "inversion" in February, is asking the U.S. Federal Trade Commission to treat it as a U.S. company to help protect it from a potential acquirer:

"Mylan is trying to have its cake and eat it too. It is an intolerable abuse of a loophole when U.S. corporations pretend they are based overseas in order to get out of paying their fair share and duck their responsibilities to the United States. It's just plain hypocrisy when one of those same inverted companies claims that it is actually a U.S. company because it needs the special protections U.S. law gives to American companies. The FTC should remind Mylan that when it chose to invert to avoid paying taxes, it gave up the privileges given to companies which remain committed to the United States. And Congress needs to act now to close the inversion loophole and fix our broken tax code to reward companies that locate and invest in America."

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