Senators to Treasury: Crack Down on Corporate Inversions

Washington, D.C. - August 11, 2017 (The Ponder News) -- Senator Dianne Feinstein (D-Calif.) joined with Senate Democrats to call on the Treasury Department to strengthen efforts to prevent corporate inversions, which occur when companies move overseas on paper in order to avoid paying taxes in the United States. It is estimated that inversions cost the federal government more than $100 billion in lost tax revenue each year.

“These schemes are deeply unfair to American taxpayers who fund the programs and protections that many of these corporations use to grow and thrive as they make significant profits,” the senators wrote. “In return, these corporations choose to desert their tax responsibility here at home, further eroding the U.S. tax base.”