Durbin Statement on Administration Action on Corporate Inversions

Press Release

U.S. Senator Dick Durbin (D-IL) -- a leading voice in Congress raising concerns regarding corporate tax inversion schemes -- released the following statement today after the Obama Administration announced several steps to address the troubling, growing trend toward U.S. corporate tax avoidance:

"When corporations choose to invert and don't pay their fair share of taxes, they leave the rest of us to pick up the tab. That isn't right," Durbin said. "Today, the Obama Administration put these corporate tax deserters on notice: we are not going to stand by while they game the tax code and avoid their responsibility to our country. Now, Congress must follow suit by taking up a legislative solution to crack down on companies that are renouncing their corporate citizenship and turning their back on American taxpayers."

In August, Durbin led a letter to President Obama urging him to use his executive authority to reduce or eliminate tax breaks for companies that shift their headquarters overseas to avoid paying U.S. taxes. As Congress considers legislative solutions to the problem, the letter emphasized the need for immediate action.

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