Andrew Quinlan, president of the Center for Freedom and Prosperity this week cautiously welcomed the nomination of John Snow for the position of US Treasury Secretary, suggesting that in the wake of recent events, the White House is likely to have chosen a candidate who will lean towards reforming the country's taxation system rather than just seeking to punish companies which decide to relocate offshore.
Speaking to the Bermuda Royal Gazette on Tuesday, Mr Quinlan predicted that Mr Snow, the chief executive of railroad holding company, CSX Corp is likely to take a more sympathetic view of the motivation behind corporate inversions than his predecessor, Paul O'Neill.
'There is more to this than just punishing a company, what we should be doing is asking why are corporate inversions taking place,' he told the newspaper, adding:
'We need innovative solutions not the old hackney of let's punish somebody as they are not following our way.'
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