Max Baucus: “the Senator from Michigan raised a very good point. There are provisions in the bill which address corporations that…”

“the Senator from Michigan raised a very good point. There are provisions in the bill which address corporations that invert--that is, 100 percent invert--in tax shelters in Bermuda or other tax havens. That was shut down in March of this year. The next category is of companies with 50-percent or 80-percent ownership that also are inverted overseas. The Senator from Michigan makes a very good point that this, too, should be addressed. I will work with the Senator in the committee to address this windfall that these companies get from existing inversions. I will work with the Senator to try to shut that down.”