WASHINGTON – Thirteen organizations announced today that they have delivered 332,064 petitions to the White House urging the President to take action to restrict “corporate inversions.” The petitions were gathered online by Americans for Tax Fairness, American Family Voices, Campaign for America’s Future, CREDO Action, Daily Kos, Demand Progress/Watchdog.net, Democracy for America, National People’s Action, The Other 98%, Progressive Congress, Progressives United, Roots Action and USAction.
The petition calls on the Obama administration to prevent corporations from renouncing their U.S. “citizenship” in order to avoid paying their fair share of taxes. It specifically asks the President to sign an executive order preventing big corporations from deserting America by claiming to be located offshore.
“Congressional action is stymied for the time being,” said Frank Clemente, Executive Director of Americans for Tax Fairness. “The American people are urging President Obama to lead the way. We need him to issue a strong executive order that removes the financial incentives for companies to renounce America in order to dodge their taxes.”
“President Obama has called companies that take advantage of tax inversions corporate deserters, but strong rhetoric won’t stop corporations from dodging taxes,” said Becky Bond, Vice President of CREDO. “President Obama should take action now and stop corporate deserters by executive order.”
“Walgreens’ and Burger King’s attempts to flee U.S. taxes have outraged Americans,” said Roger Hickey, co-director of the Campaign for America’s Future. “It is time for the President to take action to stop corporations from moving their ownership to avoid U.S. taxes – and if he does the public will back him up.”
In late July, President Obama drew attention to the inversion issue by delivering a speech in which he called these companies “corporate deserters.” The Treasury Department has been considering what actions it can take without the passage of new legislation. The White House is expected to make an announcement about its plans soon.
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.