Senator Sherrod Brown says he won't be patronizing Burger King any more. In a statement released Monday, Brown urged Congress to take steps to prevent further American companies from shifting profits overseas to avoid paying domestic tax rates in a move known as "inversion."
"Burger King's decision to abandon the United States means consumers should turn to Wendy's Old Fashioned Hamburgers or White Castle sliders. Burger King has always said 'Have It Your Way'; well my way is to support two Ohio companies that haven't abandoned their country or customers," Brown said. "To help business grow in America, taxpayers have funded public infrastructure, workforce training, and incentives to encourage R&D and capital investment. Runaway corporations benefited from those policies but want U.S. companies to pay their share of the tab."
Brown is proposing lowering the statutory corporate tax rate and the creation of a global minimum tax rate to encourage domestic investment.