Obama administration endorsed US corporate inversion during auto bailout

Author: Adam Button | Category: News

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.

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