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Posted: Monday, 31 March 2014 4:20PM

Senator Levin Investigating Caterpillar's Offshore Accounting Practices



General Motors won't be the only Midwest company under the scrutiny of Congress this week. Caterpillar's offshore tax strategies will also be examined on Tuesday by the U.S. Senate. Senator Carl Levin of Michigan says the Illinois company has succeeded at moving a lot of its profits offshore.

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Levin says Caterpillar has negotiated a corporate tax rate between 4 and 6% overseas. Levin will convene the Permanent Subcommittee on Investigations to hear from three current and former company executives. His panel goes deeper into the minutia of tax law and accounting than any other on Capitol Hill.

   

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