DeLauro criticizes Burger King deal, says lets company ‘avoid paying their fair share of U.S. taxes’
Congresswoman Rosa DeLauro, whose district includes part of Shelton, has criticized the Burger King merger with the Tim Hortons doughnut-and-coffee-store chain that will enable the fast-food restaurant to move its headquarters to Canada, lowering its corporate taxes.
DeLauro, a 12-term Democrat, denounced what has been called the U.S. fast-food restaurant company’s plan to “invert” by relocating to Canada.
“Yet another company plans to engage in a tax gimmick and dodge taxes by moving their business out of the country. This needs to come to an end,” DeLauro said.
‘Moving their mailboxes overseas’
“If Congress is unwilling to take action — which it has shown little appetite for — President Obama should act to stop companies from moving their mailbox overseas to avoid paying their fair share of U.S. taxes,” she said.
“Public opinion stopped Walgreens from taking similar action and I urge American consumers to make their voices heard once again,” she said.
Has proposed legislation on issue
DeLauro is author of the No Federal Contracts for Corporate Deserters Act. That proposed legislation would bar contracts from going to businesses that reincorporate overseas, are majority-owned by shareholders of the old U.S. corporation, and do not have substantial business activities in the foreign country in which they are incorporating.
It would also strengthen current law by curbing most subcontracts with inverted corporations, according to a release from DeLauro’s office.