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October 21, 2014, 7:02 pm
970 WMAY News

Durbin Rips Illinois Company That Plans To Renounce U.S. Citizenship


U.S. Senator Dick Durbin is blasting an Illinois company for its plan to use its acquisition of an Irish company to declare itself an overseas corporation… allowing it to evade U.S. corporate taxes. 

 

Durbin says AbbVie… formerly Abbott Laboratories… has benefited from federally-funded research through the National Institutes of Health, and has made billions of dollars selling its drugs through programs like Medicare and Medicaid. 

 

Durbin is urging AbbVie to reconsider that legal strategy.

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