Last week, Walgreen officially announced it will not move its corporate headquarters overseas. Citizen Action/Illinois applauds this decision. We have been a vocal opponent of the proposal to move Walgreen overseas as part of a tax-dodging process known as corporate inversion. It is heartening that in these days of overt corporate greed, we see an American-grown company take heed to what the people care about, which is investments in our own communities.
Customers of Walgreens throughout America and especially here in Illinois, where Walgreen was founded and is based, can take heart in the fact that Walgreen is a company that cares about its customers, as well as its shareholders and employees.
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While we are happy that Walgreen did the right thing, we know that other companies will most likely continue to exploit the process and look for ways to dodge their responsibilities as good corporate citizens. That's why we support Sen. Dick Durbin's effort to pass the Stop Corporate Inversions Act. We hope Sen. Mark Kirk will join him in the effort to make it bipartisan. We also support President Obama in any effort his administration might make to close loopholes through executive authority.