Posted on March 23, 2016
A Special Delivery for Pfizer
Pfizer — one of the world’s largest pharmaceutical companies that makes billions off of U.S. government contracts, develops and sells its drugs in the U.S., and relies on our roads and workforce — is planning to desert Americans to the tune of billions of dollars.
That’s because, through a terrible but legal practice called “corporate inversion,” Pfizer plans to merge with a tiny European rival company so that it can avoid paying the taxes it owes to the U.S. by moving its tax address offshore. That’s vital money — nearly $35 billion — that could be used to support infrastructure, education, and health care for Americans.
That’s why we decided to team up with our friends at Americans for Tax Fairness and Democracy for America to make a big push to stand with Elizabeth Warren in support of the “Stop Corporate Inversions Act,” so that Pfizer’s cynical plan will no longer be legal.
Our petitions were delivered last week to Congress:
The names of 272,000 people – including more than 140,000 CREDO activists – were delivered to Senate Majority Leader Mitch McConnell and to Sen. Richard Durbin, Sen. Jack Reed, and Sen. Elizabeth Warren, the leading sponsors and supporters of the bill.
Pfizer is just the latest example in a disturbing pattern of corporate tax dodgers. With passage of the Stop Corporate Inversions Act, we can put an end to it once and for all. You can join the effort to end corporate inversions by adding your name to the petition.