Hillary Clinton Campaign Press Release - Corporate Giants Found a Way To Exploit Tax Loopholes. Hillary Clinton Has a Plan To Stop Them

Corporations don't need another tax break.

Powerful corporations try to game the tax system to pay as little as possible. And for far too long, American taxpayers have had to pick up the slack.

Here's just one example: The pharmaceutical giant Pfizer found a clever way to lower their tax bill.

In a $160 billion deal, Pfizer is merging with Allergen to form the world's largest drug company—and they're moving their on-paper residence overseas to escape paying their fair share in U.S. taxes.

They'll get legal protections and the support of U.S. taxpayers for operating here:?

But on paper, they'll be based (and pay far lower taxes) here:

Corporations like Pfizer use so-called "inversions" to shortchange taxpayers by billions of dollars every year. And these loopholes put American workers and small businesses at a major disadvantage.

Hillary will crack down on companies that shift profits overseas to avoid paying their fair share in U.S. taxes.

Hillary's plan will end the loopholes that reward companies for moving overseas and shift earnings abroad—and use the proceeds to reward the ones that invest here in the United States. It would charge a new "exit tax" for companies leaving the U.S. to settle up on their untaxed foreign earnings. And it will provide more support to American businesses—especially smaller manufacturers—so that they can compete.

That means more jobs and corporate tax dollars at home.

Read more about Hillary's plan here.