Van Hollen Statement on the Treasury Secretary’s Letter on Inversions

Washington, DC – Today Maryland Congressman Chris Van Hollen, Ranking Member of the House Budget Committee, issued the following statement on Treasury Secretary Lew’s letter urging Congressional action on corporate inversions:

“Secretary Lew is entirely correct: We need not only a ‘new sense of economic patriotism,’ but swift action by Congress to stop corporate inversions.  The bandwagon of companies effectively renouncing their U.S. citizenship for tax purposes needs to be stopped in its tracks.

“No one doubts that our tax code is broken in many ways, but we cannot use the need for broader tax reform as an excuse to do nothing as more and more companies use this tactic to avoid paying their fair share.”