Washington, DC – Today, Ways and Means Chairman Dave Camp (R-MI) issued the following reaction to the U.S. Department of Treasury’s announcement on inversions.
“We’ve been down this rabbit hole before, and until the White House gets serious about tax reform, we are going to keep losing good companies and jobs to countries that have or are actively reforming their tax laws. A few campaign style speeches and stopgap measures from Treasury won’t do it – it hasn’t worked in the past, and even Secretary Lew admits the only real solution is tax reform. I fear this Administration is only interested in doing the bare minimum – just enough to say they care. The American people see right through that – they see it in their paychecks, which have been flat; they see it when their kids cannot find a job after college; and, they see it when our high tax rates push our companies overseas. It is time for the Administration to put forward a serious, detailed, credible plan to reform our tax code.”