Durbin Statement On Burger King Decision To Shift Tax Domicile To Canada
CHICAGO—U.S. Senator Dick Durbin (D-IL) released the following statement after Burger King announced plans to merge with Ontario-based Tim Horton's Inc, and shift its tax domicile out of the United States. While Burger King's operational headquarters will remain in Florida, the move would reportedly cut the company’s U.S. corporate tax bill significantly.
“With every new corporate inversion, the tax burden increases on the rest of us to pay what these corporations don’t. That burden is made worse when these corporations profit off of all the public benefits that help American companies succeed and then run from their U.S. tax responsibility. I'm disappointed in Burger King's decision to renounce their American citizenship. I call on companies currently mulling this tax dodge to reconsider, and on Congress to protect U.S. taxpayers from more of these schemes."
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