U.S. Crackdown on Inversions Renews Calls for Tax Code Overhaul (The Wall Street Journal)

“The further you drill down, the more difficult it becomes to keep everyone on the same page,” said Dorothy Coleman, vice president of domestic economic policy at the National Association of Manufacturers. “People recognize that we have a dysfunctional tax system and something needs to be done about it.”

Ms. Coleman and others in the business world spent the week criticizing the administration’s third round of rules against inversions, which led Pfizer Inc. to scuttle its planned merger with Allergan PLC. They called for “tax reform.” Mr. Obama, in his remarks at the White House on Tuesday, called for “tax reform.”

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