Obama wants limits on US company mergers abroad
Published 10:03 am Thursday, July 24, 2014
LOS ANGELES — President Barack Obama is tapping into growing misgivings about tax-driven overseas mergers by U.S. corporations, issuing a new call to end the practice quickly and questioning the patriotism and citizenship of those companies.
The push comes amid a developing trend by companies to reorganize with foreign entities partly to reduce their tax payments in the U.S.
But Obama’s election-year drive also coincides with increased attention to the issue by congressional Democrats, who are seeking to draw contrasts with Republicans and to portray them as too corporate-friendly.