July 18, 2014

Their View | Widening the loopholes

This week, two more U.S. companies moved to re-establish themselves overseas, allowing them to pursue lower corporate tax rates. They will join dozens of others who have chased lower tax bills abroad while maintaining operations in the United States, benefiting from the U.S. business climate, legal stability and research investments without helping to pay for these advantages. Treasury Secretary Jack Lew pressed Congress on Tuesday to close the avenues in U.S. law that allow companies to evade corporate taxes by moving to foreign countries.

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