Levin Statement on Medtronic Inversion

MEMO

TO: Reporters, producers, editors
FROM: Ways and Means Democrats Press Office (202-225-8933)
RE: Levin Statement Regarding Medtronic Inversion

Ways and Means Committee Ranking Member Sander Levin (D-MI) today met with representatives of Medtronic and Covidien and released the following statement:

"In a meeting today with representatives of Medtronic and Covidien, which I welcomed, they set forth the benefits for their business operations of combining their resources, irrespective of taxation. At the same time, Medtronic's reincorporating in Ireland would enable the combined company to lower its U.S. taxes. Congress owes it to the American people to inquire seriously into each and every acquisition given the dramatic increase in the number of corporate inversions in recent years, while Congress undertakes the necessary and serious effort of tax reform on a truly bipartisan basis."

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