Overview
Bloomberg quoted George Callas in an article titled "Trump Weighs Weakening Obama Rules to Curb Corporate Inversions." The article, published October 8, explains why Treasury Department officials are considering rolling back a tax rule aimed at preventing American companies from moving money offshore to avoid US taxes. Critics of the regulations say the rules are no longer necessary because the 2017 tax overhaul made corporate inversions less attractive, thanks to lower tax rates and limits on how much interest companies can deduct.
Callas, who worked as senior tax counsel to former House Speaker Paul Ryan during the passage of the 2017 law, notes that tax code overhaul would prevent much of what the regulations are designed to block. "It's appropriate to analyze whether they're still necessary in whole, in part, or not at all," Callas says.
The full article can be read at Bloomberg.