UPDATE 1-Republicans defend Caterpillar, blast U.S. tax code at hearing
April 01, 2014 at 13:49 PM EDT
WASHINGTON, April 1 (Reuters) - The broken U.S. tax code encourages companies to shift profits overseas, Republican senators said on Tuesday, seeking to deflect criticism from Caterpillar Inc at a hearing on how it allegedly avoided paying $2.4 billion in taxes.
