August 14,2014

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Lindsey Held: 202-224-4515

Wyden Statement Regarding Plans to Address Corporate Inversions

WASHINGTON - Senate Finance Committee Chairman Ron Wyden, D-Ore., issued a statement today regarding congressional proposals to close the inversion loophole:

“The inversion virus continues to plague our country and I’m encouraged that colleagues from both sides of the aisle are offering ideas on a solution. It’s important to define key principles now as we push forward to finally close this loophole. 

“I’ve had many discussions with Senator Schumer on the issue and appreciate his efforts. In parallel, my team is working with Senator Hatch’s team to put a bipartisan, Committee lens to the issue. That includes discussion of tax and accounting rules, including addressing earnings stripping, which is a key piece of any sound solution.  

“This issue demands a resolution in the near term and I hope to have bipartisan legislation in place come September.”