U.S. Senator Sheldon Whitehouse (D-RI) has announced the introduction of the Stop Subsidizing Giant Mergers Act together with Senator JD Vance (R-OH), which seeks to end tax-free merges where an acquiring company exchanges stock for an acquisition. The measures of the legislation would apply with respect to mergers and acquisitions involving firms with combined average annual gross receipts exceeding USD 500 million in the prior three years. The legislation includes exceptions for mergers involving small businesses, and corporations that are undergoing a purely internal reorganization would still be able to do so without incurring a tax obligation. --- WHITEHOUSE, VANCE...