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Jack Lew

A collection of news and information related to Jack Lew published by this site and its partners.

Top Jack Lew Articles

Displaying items 23-33
  • Lew calls for 'economic patriotism,' seeks to limit offshore tax moves

    Lew calls for 'economic patriotism,' seeks to limit offshore tax moves
    Calling for "a new sense of economic patriotism," a top Obama administration official urged Congress to take immediate action to stop U.S. companies from reorganizing as foreign firms to avoid paying taxes. The maneuver, known as tax inversion, serves...
  • Obama takes aim at firms that shift profits overseas to avoid taxes

    The Obama administration called out corporate America for its growing use of a tactic to avoid paying taxes and urged lawmakers to act quickly to put a halt to the maneuver. In a sharply worded letter to key congressional tax code writers, Treasury...
  • AbbVie to buy drugmaker Shire in nearly $55 billion deal

    AbbVie to buy drugmaker Shire in nearly $55 billion deal
    AbbVie Inc. has inked a nearly $55 billion deal to acquire drugmaker Shire PLC, the companies announced in a joint statement Friday morning. The deal, the largest of a year filled with merger and acquisition activity, will allow the North Chicago-...
  • AbbVie to Buy Shire for $54.8 billion in biggest inversion

    AbbVie to Buy Shire for $54.8 billion in biggest inversion
    AbbVie Inc. is buying Shire for nearly $55 billion, the largest deal in a year filled with merger and acquisition activity, and the latest example of companies taking foreign addresses to cut taxes. The deal will allow North Chicago-based pharmaceutical...
  • AbbVie to buy Shire in $55-billion deal that slashes tax rate

    AbbVie to buy Shire in $55-billion deal that slashes tax rate
    Illinois drug maker AbbVie Inc. said Friday it would buy European rival Shire for $55 billion and reincorporate in Britain, allowing the company to slash its tax rate in the latest move by an American firm to shelter its foreign earnings. The deal...
  • AbbVie-Shire deal puts more pressure on Congress to overhaul tax code

    A massive pharmaceutical merger that will send the headquarters of a major U.S. drug maker overseas ramps up pressure on Congress to curtail the ability of companies to shelter foreign earnings. Illinois drug maker AbbVie Inc. said Friday that it...
  • AbbVie to buy drugmaker Shire for $55 billion

     AbbVie to buy drugmaker Shire for $55 billion
    AbbVie Inc. signed a nearly $55 billion deal to acquire drugmaker Shire PLC early Friday, a move that will allow it to substantially cut its corporate tax bill by moving its legal address to the United Kingdom. The deal, announced by both companies in a...
  • Inversion loophole puts U.S. tax policy in a jackpot

    A merger between America's top slot-machine manufacturer and Europe's biggest gaming operator will create a gambling giant that manages lotteries and slots networks worldwide — and adds to the urgency for a political crackdown on U.S. companies...
  • Key Senate Democrat urges action to limit tax inversion 'virus'

    A key Democratic senator on Tuesday decried the recent wave of American companies restructuring abroad to avoid U.S. taxes, describing it as a virus infecting the economy and urging legislation to halt it. But despite the call from Senate Finance...
  • Stop inversions now [Editorial]

    Stop inversions now  [Editorial]
    If your roof starts leaking live a sieve, it's not only prudent to get a new roof but to install a short-term fix — buckets to catch the water, perhaps, or a tarp — before your house is ruined. So should it be with so-called tax inversions...
  • S&P warns of downside to corporate tax inversions: lower credit ratings

    American companies shifting their headquarters overseas to reduce taxes face a potential downside -- lower credit ratings, Standard & Poor's warned in a new report. So-called inversions, which have been on the rise, involve a U.S. firm buying a...