Clinton aims to stop 'earnings stripping' to curb inversion deals

U.S. Democratic presidential candidate Clinton speaks during a town hall in Waterloo, IowaBy Amanda Becker WATERLOO, Iowa (Reuters) – U.S. Democratic presidential candidate Hillary Clinton will continue her push to crack down on companies that shift profits overseas, at a campaign stop on Wednesday in Iowa, where she will unveil her plan to rein in the practice, known as earnings stripping. Clinton is spending this week detailing how she will address tax-avoiding “inversion” deals in which a company buys or merges with a foreign rival and relocates on paper to lower its U.S. tax bill. Clinton and her campaign have made clear they are viewing the real-life implications of inversion deals through the lens of the $160 billion plan by U.S. pharmaceutical maker Pfizer Inc to purchase smaller rival Allergan Plc and move its headquarters to Ireland.

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