3 Top Business Leaders Say Reform Tax Code to Deal with Inversions

Aug 08, 2014 - 3:00pm

Senior Editor, Digital Content


Disney Chairman and CEO Bob Iger
Disney Chairman and CEO Bob Iger is one of many business leaders advocating tax reform. Photographer: Photographer: Patrick T. Fallon/Bloomberg.

Lots of pixels have been spilled on corporate inversionsAs business leaders from three top American companies point out, these transactions should be a red alert to leaders in Washington that comprehensive tax reform is needed.

1. Walt Disney CEO, Bob Iger:

We're in great need of tax legislation as a country. The corporate tax rate is too high. There are too many loopholes. Congress is not getting off the dime and addressing it and they really should.

2. E.I. Lilly CEO, John Lechleiter:

The current U.S. tax system puts U.S. companies at a disadvantage, Some of these companies acting on these inversions … are simply trying to level the playing field. If we got a concern about inversions we need to tackle our tax code.

3. Caterpillar Chairman and CEO Doug Oberhelman:

There is no question that a comprehensive, full-blown tax reform in this country is absolutely needed and will absolutely will stimulate growth.

Instead of rhetoric and symbolic votes designed to rile up the political base, Washington should go after the problem it has avoided for too long: Our complex, uncompetitive tax code. Comprehensive reform will make American companies more globally competitive and also make America a better place to do business.

Follow Sean Hackbarth on Twitter at @seanhackbarth and the U.S. Chamber at @uschamber.


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About the Author

About the Author

Sean Hackbarth
Senior Editor, Digital Content

Sean writes about public policies affecting businesses including energy, health care, and regulations. When not battling those making it harder for free enterprise to succeed, he raves about all things Wisconsin (his home state) and religiously follows the Green Bay Packers.