Lew Urges Closing of ‘Wasteful’ Corporate Tax Loopholes

Treasury Secretary Jacob J. Lew said the U.S. needs to close “wasteful tax loopholes that reward American companies for shipping jobs overseas.”

Lew was speaking at a ceremony in Washington today marking the 225th anniversary of the Treasury Department.

The Treasury is working on ways to crack down on corporate inversions, overseas mergers that cut companies’ U.S. tax payments. Lew didn’t indicate what measures the department might take.

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