Heh. That’s likely what those corporate legal and accounting minds are thinking: nuttin’ is going to pass that stops that nice little scam allowing corporations to incorporate overseas to avoid paying taxes in the U.S.

I wrote about this scam not too long ago. And prospects are not good:

On Tuesday, senators are scheduled to conduct a hearing on international corporate taxation that is expected to focus on inversions.

“This inversion loophole must be plugged,” Mr. Wyden said in a statement. “As the speed of inversions increases, this will only fuel bipartisan urgency to stop companies from deserting the U.S. I’m talking with my colleagues and exploring options for addressing this in the near and long term.”

But without a similar effort in the House, no new laws are likely anytime soon. [emphasis added]

It’s all the rage:

In recent months, several big companies have reached deals that will allow them to reincorporate in countries like Ireland and the Netherlands, where corporate taxes are lower. This week alone, two such arrangements appeared sealed, with AbbVie, the drug maker based in Chicago, winning tentative approval from Ireland-based Shire for a $53 billion acquisition; and Mylan, the generic drug maker based outside Pittsburgh, paying $5.3 billion for the European assets of Abbott Laboratories.

The theft continues.