LOS ANGELES, July 24 (Reuters) – U.S. President Barack Obama
on Thursday hammered U.S. companies that avoid federal taxes by
shifting their tax domiciles overseas in deals known as
“inversions” and called on Congress to pass a bill to end the
During remarks to a rowdy crowd at the Los Angeles Technical
College, Obama promoted what he called “economic patriotism” and
made clear he believed the companies that were engaging in such
practices were not being patriotic. The president is in
California on a three-day fund-raising swing for Democrats.
LOS ANGELES (Reuters) – U.S. President Barack Obama will call on Thursday for an end to a corporate loophole that allows companies to avoid federal taxes by shifting their tax domiciles overseas in deals known as “inversions,” White House officials said.
Obama will make the comments during remarks about the economy at Los Angeles Technical College. The president is in California on a three-day fundraising swing for Democrats.
Obama says “Democrats are not perfect.” Someone in the crowd retorts: yes they are. Laughter. Obama says: Democrats have done stupid stuff.
SAN FRANCISCO (Reuters) – President Barack Obama has sent a team to Texas to assess whether a U.S. National Guard deployment would help to handle an immigration crisis at the Mexican border, White House officials told Reuters on Wednesday, having so far resisted Republican calls for such a move.
The team, made up of officials from the Department of Defense and the Department of Homeland Security, departed on Tuesday and will be on the ground through Thursday.