U S House of Representatives Committee on Bud : Van Hollen Statement on Johnson Controls Inversion

Washington, DC - Today Maryland Congressman Chris Van Hollen, Ranking Member of the House Budget Committee, issued the following statement following reports that Johnson Controls Inc. plans to renounce its U.S. citizenship to avoid paying U.S. taxes:

'American taxpayers are once again on the hook for a big corporation's tax bill because Congress has failed to close the egregious inversion loophole. It is disappointing that Johnson Controls has decided to change its mailing address to Ireland just to avoid paying its fair share of U.S. taxes, but Congress is complicit by allowing the practice to continue unabated. Johnson Controls is a company that benefits from a bounty of taxpayer-funded resources, like employees trained in our schools and our extensive infrastructure. It is inverting while it remains highly dependent on a successful U.S. auto industry - the same industry which was saved by the investment of taxpayer dollars only a few short years ago. Instead of reciprocating this commitment to American taxpayers, Johnson Controls is renouncing its U.S. citizenship and burdening families in Maryland and across the country with its tax bill.'

'Congress needs to act now on legislation Congressman Levin and I introduced to close this loophole, and we must fix our broken tax code to reward companies that locate and invest in America - not those who turn their back on American taxpayers.'