White House declines comment on Johnson Controls deal to buy Ireland-based TycoWASHINGTON (Reuters) - The White House on Wednesday declined to comment on the latest so-called tax-inversion deal by a major U.S. company, but said legislation was needed to close the loophole. Asked at a White House briefing about a $16.5 billion deal announced on Monday by Johnson Controls Inc (JCI.N), a U.S. maker of car batteries and heating and ventilation equipment, to acquire Ireland-based peer Tyco International Plc TYC.N, spokesman Josh Earnest said he would not comment on specific deals. “Ultimately, we need legislation to address this loophole,” he said. politicsNews
white house declines comment johnson controls deal buy tycowashington reuters the white house wednesday declined comment latest deal major company said legislation needed close loophole asked white house briefing billion deal announced monday johnson controls inc maker car batteries heating ventilation equipment acquire peer typo international plc spokesman josh earnest said would comment specific deals ultimately need legislation address loophole said politicsnews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: White House declines comment on Johnson Controls deal to buy Ireland-based TycoWASHINGTON (Reuters) - The White House on Wednesday declined to comment on the latest so-called tax-inversion deal by a major U.S. company, but said legislation was needed to close the loophole. Asked at a White House briefing about a $16.5 billion deal announced on Monday by Johnson Controls Inc (JCI.N), a U.S. maker of car batteries and heating and ventilation equipment, to acquire Ireland-based peer Tyco International Plc TYC.N, spokesman Josh Earnest said he would not comment on specific deals. “Ultimately, we need legislation to address this loophole,” he said. politicsNews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: white house declines comment johnson controls deal buy tycowashington reuters the white house wednesday declined comment latest deal major company said legislation needed close loophole asked white house briefing billion deal announced monday johnson controls inc maker car batteries heating ventilation equipment acquire peer typo international plc spokesman josh earnest said would comment specific deals ultimately need legislation address loophole said politicsnews