Obama urges Congress to take action on corporate tax reform

[Lodestar]

Source: Reuters

U.S. President Barack Obama on Tuesday urged Congress to take action to stop U.S. companies from taking advantage of tax loopholes that allow them to avoid paying taxes.

"When companies exploit loopholes like this... it sticks the rest of us with the tab and it makes hard-working Americans feel like the deck is stacked against them," Obama told reporters at the White House, adding that wealthy corporations and individuals should not be "gaming the system."

Obama, a Democrat, has called repeatedly for action by the Republican-controlled U.S. Congress on tax-avoiding corporate inversions, which lowers companies' tax bills by allowing them to redomicile overseas even though their core operations and management usually remain in the United States. So far, lawmakers have done little.


Read more: http://www.reuters.com/article/us-usa-tax-inversions-obama-idUSKCN0X2256

[TomCADem]

3. The Treasury Under Obama Has Been Fighting Inversions

For example, last year, the Treasury has indicated that it will be issuing new regulations to combat inversions over the objections of Republicans. Two days ago, these regulations were released. Of course, Republicans will continue to fight their implementation.

http://www.forbes.com/sites/timtodd/2015/11/21/irs-to-release-additional-rules-on-corporate-inversions/#5449e8db545b

[Judi Lynn]

2. He should make a BIG deal of their reluctance to act on corporate tax reform, and their history

of refusing to do it.

The time is right to really let these sleazy Republicans have it on this issue. The exposure will do them good, or at least the public good. People need to know they refused to clean this up.