MI HR0406

Urges the President and Congress to close the federal tax loophole that allows U.S. corporations to declare foreign headquarters to avoid paying U.S. taxes through "tax inversion" deals.

Identifies that inverted corporations continue operating in the U.S. while shifting tax liability overseas, unfairly increasing the tax burden on other businesses and individuals.

Recommends Congress enact legislation like the Stop Corporate Inversions Act of 2014 to increase the required percentage of foreign stockholder ownership before a corporation qualifies as foreign for U.S. tax purposes.

Directs the Treasury Secretary to use existing authority under Section 385 of the U.S. Tax Code to treat debt of foreign-based U.S. corporations beyond a certain level as non-deductible equity, discouraging inversion deals.

Requires copies of the resolution be sent to the President, Speaker of the House, and Michigan's congressional delegation.