Levin Statement on Potential AbbVie Inversion

The following press release was published by the U.S. Congress Committee on Ways and Means on July 14, 2014. It is reproduced in full below.

WASHINGTON - Ways and Means Committee Ranking Member Sander Levin (D-MI) today made the following statement in response to reports that Chicago-based pharmaceutical company AbbVie plans to reincorporate in England by purchasing London-based pharmaceutical company Shire:

“This is another wake-up call that corporate inversions present an immediate problem that requires urgent action. Unfortunately, Republicans remain asleep at the switch. Action on this critical issue cannot wait for comprehensive tax reform."

Source: U.S. Congress Committee on Ways and Means