Deals
Limit on Contracts for Inverted Companies Wins in House
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The U.S. House of Representatives voted today to prevent companies that moved from the U.S. to Bermuda or the Cayman Islands from winning some federal contracts.
The 221-200 tally, with 34 Republicans joining almost all Democrats, marks the first recorded vote by U.S. lawmakers attempting to stem the tide of companies reincorporating outside the U.S. Still, it probably won’t change much about how companies operate.