Durbin Applauds Walgreens' Decision To Remain Headquartered in Illinois
CHICAGO—U.S. Senator Dick Durbin (D-Ill.) released the following statement after Walgreens announced that it would proceed with the purchase of the remaining stake in Swiss-based Alliance Boots GmbH, but that it will remain headquartered in Deerfield, Illinois:
Earlier this morning, I spoke with the CEO of Walgreen’s, and am thrilled to say that the corner of happy and healthy is still right here in Illinois. As Walgreens themselves noted, Illinois has been their home for more than 110 years, and locating their global business here in the U.S. was the right decision for their customers, employees and shareholders. I’d add to that that it’s the right decision for every taxpayer in Illinois and across America.
Late last month, Durbin sent a letter to Walgreens CEO Greg Wasson, expressing his strong opposition to the speculation that the company would buy Alliance Boots and use a strategy called “inversion,” to move the company’s headquarters overseas, but only on paper, in order to avoid paying U.S. taxes. Durbin has been the leading voice in Congress against these schemes, raising the issue in the face of a growing trend in U.S. corporate tax avoidance.