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Lew calls for 'economic patriotism,' seeks to limit offshore tax moves
Lew calls for 'economic patriotism,' seeks to limit offshore tax moves

Calling for "a new sense of economic patriotism," a top Obama administration official urged Congress to take immediate action to stop U.S. companies from reorganizing as foreign firms to avoid paying taxes. The maneuver, known as tax inversion, serves "to hollow out the U.S. corporate income tax base," Treasury Secretary Jacob J. Lew wrote in a letter Tuesday to congressional leaders that was obtained by the Times. "What we need as a nation is a new sense of economic patriotism, where we all rise or fall together," Lew wrote to the top Democrats and Republicans on the congressional tax-writing committees. "We should not be providing support for...

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