Clinton Ad Highlights Need For Urgent Action By Obama To Prevent Tax-Dodging Corporate Mergers

Washington, D.C. – Americans for Tax Fairness Action Fund applauds Hillary Clinton’s new campaign ad denouncing Johnson Controls for “gaming the system and moving profits to Ireland so they can avoid paying taxes here at home.”

“With this ad, Hillary Clinton makes a clear case for why the Obama Administration should close the loophole that will allow Johnson Controls to walk away from the taxes it owes on $8.1 billion of untaxed offshore profits,” said Frank Clemente, executive director of Americans for Tax Fairness Action Fund. “The Administration can, and should, act quickly. Pfizer, the giant pharmaceutical company, is trying to take advantage of the same loophole, which could allow it to dodge tens of billions in taxes when it too merges with an Irish company.” Continue reading →