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Obama Looks to Congress on Panama Papers

Following the release of the so-called “Panama papers” that exposed a network of tax fraud on a worldwide scale, President Barack Obama called upon Congress to take steps to limit corporate inversion loopholes in the United States.

“I want to make this perfectly clear: while the Treasury Department actions will make it more difficult and less lucrative for companies to exploit this particular loophole,” Obama said, “only Congress can close it for good.”