In a speech on Tuesday, President Obama criticized American corporations who use tax inversion—or adopting an overseas address to avoid U.S. taxes—and defended new Treasury rules that make the practice more difficult.
“I’m very pleased that the Treasury Department has taken new action to prevent more corporations from taking advantage of one of the most insidious tax loopholes out there,” Obama said. “When companies exploit loopholes like this, it makes it harder to invest in the things that are going to keep America’s economy going strong for future generations. It sticks the rest of us with the tab.”
— The White House (@WhiteHouse) April 5, 2016