Pelosi Statement on New Bill to Combat Corporate Inversions

January 20, 2015

Washington, D.C. – Democratic Leader Nancy Pelosi released the following statement on legislation introduced today by Ways and Means Committee Ranking Member Sandy Levin, Rep. Lloyd Doggett (D-TX), Senate Minority Whip Dick Durbin, and Sen. Jack Reed (D-RI) to stop corporations from changing their tax address in order to avoid paying U.S. taxes.

"American citizens who work hard, play by the rules and contribute to their communities expect corporations to do the same. However, a tax loophole encourages corporations to move their tax address overseas to avoid paying U.S. taxes that pay for our national security, our infrastructure, and the education of our children.

"Corporate inversions are an insult to hardworking Americans who pay their taxes and expect big corporations to be governed by the same set of rules. Rather than continue fulfilling the wish lists of their special interest friends, House Republicans should join Democrats in supporting this bill and closing the loophole that rewards corporations that dodge taxes and shift tax burdens onto working families.

"House Democrats are committed to building an economy that works for everyone, not just the wealthy and well connected. This legislation can help close the loophole that robs communities of the resources needed to help America remain number one."