Van Hollen Statement on New Administration Guidance to Limit Corporate Inversions

Statement

Today Maryland Congressman Chris Van Hollen, Ranking Member of the House Budget Committee, released the following statement after the U.S. Treasury Department announced it would issue new guidance limiting corporate inversions:

"I applaud the Obama Administration for taking new steps to limit the egregious corporate inversions tax loophole. Hopefully, the new guidance from the U.S. Treasury Department will prevent some American companies from renouncing their U.S. citizenship just to dodge taxes.

"But until Congress tackles this in a serious way, companies that move forward with inversions still have a green light to take advantage of all of the benefits of being located in the United States -- our infrastructure, workforce, and education system -- while shifting billions in tax obligations onto American workers and families. That's why I've introduced legislation with Congressman Levin to close this loophole for good and make sure wealthy companies aren't passing their tax obligations on to those who can least afford it."

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