Levin Statement on Inversions

WASHINGTON – Ways and Means Committee Ranking Member Sander Levin (D-MI) today made the following statement after AbbVie and Shire said they would terminate their proposed merger:

“The Treasury Department has done its part to clarify existing law, causing big corporations to think twice about moving their addresses overseas primarily for tax benefits. Now Congress must live up to its responsibility and take legislative action to ensure that a small number of large corporations don’t get to play by a different set of rules than everyone else.”