U.S. senator says Warren Buffett called him about tax inversions

Berkshire Hathaway CEO Warren Buffett listens to a shareholder at the Berkshire-owned Borsheims jewelry store where Buffett was selling jewelry as part of the company annual meeting weekend in OmahaSenator Orrin Hatch, the top Republican on the tax-writing Finance Committee, said billionaire investor Warren Buffett called him recently to find out what Congress might do about companies that move abroad for tax purposes. Lawmakers, particularly Democrats, are concerned about inversions, in which a U.S. The deals often result in lower tax rates for the inverted company. Buffett, who has sided with President Barack Obama’s Democrats on many tax issues, was criticized by some Democrats when he agreed to put up some cash for Burger King Worldwide’s $11.5 billion deal to buy Canadian chain Tim Hortons.

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