WASHINGTON – Frank Clemente, Executive Director of Americans for Tax Fairness, released the following statement in response to President Obama’s comments on “economic patriotism” and corporate inversions in his speech today in Los Angeles.
“President Obama today urged all Americans to support an ‘economic patriotism’ agenda. The first and easiest step Congress can take to achieve that is to halt any more corporate inversions. Companies should not be able to desert America for tax havens to avoid paying their fair share of taxes. Walgreens is expected to announce as soon as August 4 what kind of company it is going to be in the future – an economic patriot that stays incorporated in America or a Benedict Arnold traitor that flees to a tax haven.”
Americans for Tax Fairness is a diverse coalition of 425 national and state organizations that collectively represent tens of millions of members. The organization was formed on the belief that the country needs comprehensive, progressive tax reform that results in greater revenue to meet our growing needs. ATF is playing a central role in Washington and in the states on federal tax-reform issues.