Senator Bernie Sanders Bill Targets ‘Corporate Deserters’

WASHINGTON – Sen. Bernie Sanders is targeting “corporate deserters” with legislation to ban businesses from receiving lucrative government contracts when they try to dodge U.S. taxes by moving overseas. The Vermont independent announced the legislation Friday after pharmaceutical giant AbbVie became the latest example of a U.S. company seeking to shift its tax residence abroad through a merger with a foreign partner, in this case Shire Pharmaceuticals, its European rival. Sanders said he will file an amendment to a Defense Department authorization bill to prohibit the government from awarding federal contracts to companies that reincorporate overseas to avoid paying U.S. income taxes.