Lew says Apple's tax fight could spur congressional action
Posted August 31, 2016 7:00 am
WASHINGTON (AP) - U.S. Treasury Secretary Jacob Lew is criticizing a European ruling that Apple owes more than $14.5 billion in back taxes. He says the decision may spur Congress to finally address the stalled effort to reform America's corporate tax structure.
Lew says that while the Obama administration has failed in its efforts to get tax reform through Congress, he believes the unhappiness expressed by both Democrats and Republicans following Europe's announcement on Tuesday could push Congress to act.
Lew says he is "hopeful that we will see action, probably not in my tenure, but early in the next administration."
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