Hillary Clinton Statement on Johnson Controls-Tyco Inversion Deal
Today, after Johnson Controls and Tyco announced a merger estimated to yield the combined companies $150 million in tax savings by moving abroad to Ireland to shirk its U.S. tax obligations, Hillary Clinton issued the following statement on the inversion deal and her unique, tough and targeted plan to end these tax-avoidance measures that allow big corporations to avoid paying their fair share in the United States:
"It is outrageous when large multinational corporations game the tax code and shelter money overseas to avoid paying their fair share, including through maneuvers like inversions. As I have said throughout my campaign, these efforts to shirk U.S. tax obligations leave American taxpayers holding the bag while corporations juice more revenues and profits. I have a detailed and targeted plan to immediately put a stop to inversions and invest in the U.S., block deals like Johnson Controls and Tyco, and place an 'exit tax' on corporations that leave the country to lower their tax bill."
Hillary Clinton, Hillary Clinton Statement on Johnson Controls-Tyco Inversion Deal Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/318857