On 8 March 2016, U.S. Senator Sherrod Brown (D-OH) announced the reintroduction of the so-called Pay What You Owe Before You Go Act. A previous version of the bill was introduced in September 2014, but never passed. The 2016 version of the bill is meant to address the issue of corporate inversions by requiring companies to pay their full U.S. tax bill on all deferred overseas profits before reincorporating in a new country. It includes a 35% exit tax with credits for foreign taxes paid against the overseas profits of corporations seeking to invert as defined by Section 7874 of...