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Senator Calling For Burger King Boycott After Chain Allegedly Seeks Merger To Avoid US Taxes (Picture)
Sen. Sherrod Brown (D., Ohio) was the first lawmaker to call for a boycott of Burger King Worldwide Inc.BKW +18.68%, telling customers to shop elsewhere given the company’s pursuit of an acquisition that could allow it to avoid or curtail U.S. taxes.
Burger King is in talks to buy Canadian coffee-and-doughnut chain Tim Horton’s Inc., and the new company would be based in Canada, if the deal if finalized.
The deal would be structured through a so-called inversion, which would reduce the taxable income paid by the new parent company. Democrats and the White House are trying to design ways to deter these transactions, which have become more popular in recent months, but they have been unable to reach a bipartisan agreement. Mr. Brown, in a press statement on Monday, called on Americans to protest the possible deal with their wallets. Or, in this case, their stomachs. MOREHERE
