Obama: Mulling Options To End Tax Dodge, Want To Move Quickly

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Obama: Mulling Options To End Tax Dodge, Want To Move Quickly

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Obama: Mulling Options To End Tax Dodge, Want To Move Quickly

by Wochit 0:40 mins

Obama: Mulling Options To End Tax Dodge, Want To Move Quickly

by Wochit 0:40 mins

President Barack Obama said on Wednesday that Congress should close a tax loophole exploited by firms by locating their tax domiciles overseas but added that he is considering options to address the issue unilaterally because the trend must be ended. "We can't solve the entire problem administratively, but what we are doing is, are there elements to existing statutes that are interpreted by rule or by regulation or by tradition or practice that can at least discourage some of the folks who may be trying to take advantage of this loophole," he said at a news conference, discussing the practice known as "inversion." "We don't want to see this trend grow," he added.

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