The Obama administration is using the bully pulpit to chastise companies attempting reincorporate overseas and is attempting to find ways block the trend.
But back in 2009 the administration authorized a $1.7 billion bailout to autoparts maker Delphi as it reorganized in bankruptcy and reincorporated overseas. In June, the IRS told the company that it now must pay taxes as a US corporation but Delphi pledged to fight the demand.
