Treasury’s bold rules that derailed the Pfizer-Allergan deal only buy us some time

When I wrote in my most recent column that I hoped the Treasury would swing for the fences to try to limit corporate inversions, it never occurred to me that it would issue rules remotely as tough as the ones it unveiled on Monday.

For that matter, I had no idea that the rules would be issued just three days after my column went online and the day after it ran in the Sunday paper. But as they say, timing is everything.

And I certainly had no idea that President Obama would praise the new Treasury rules at a White House news conference, a move that makes him look bold and decisive, but reduces to zero the already slim chance that Congress will do anything any time soon to deal with our messed-up corporate tax code.

Corporate desertions were already a hot political topic, with Hillary Clinton, Bernie Sanders and Donald Trump, among others, denouncing them in strong terms. Now they’re even hotter.

Read more: Washington Post

Allan Sloan is a columnist for The Washington Post. He is a seven-time winner of the Loeb Award, business journalism’s highest honor. View Archive

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