Congress should act to prevent more tax inversions: White House

Reuters News
|
Posted: Nov 23, 2015 2:02 PM

WASHINGTON (Reuters) - The White House declined to comment on Pfizer's acquisition of Allergan, the biggest-ever tax inversion deal, but said Congress should take legislative action to prevent deals where companies lower their taxes by reincorporating overseas.

White House spokesman Josh Earnest on Monday told reporters the Treasury Department has tried to discourage tax inversions with a series of administrative actions, and said the pace of deals has slowed because of those actions.

(Reporting by Roberta Rampton, Julia Edwards and Doina Chiacu; Editing by Susan Heavey)