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Treasury Can Act on Inversions if Congress Won’t, Lew Says

Legislation proposed by Sen. Schumer would limit deductible interest for companies that invert.

By Ian Katz, Richard Rubin and Peter Cook, Bloomberg | Updated on September 10, 2014

The Obama administration can make tax inversions less economically attractive to U.S. corporations and deter companies from changing their addresses, Treasury Secretary Jacob J. Lew said.

Lew said a “broken” tax system is what prompts U.S. companies to reduce taxes by moving their addresses abroad. He reiterated yesterday that the administration will decide on possible action in the “very near future” to limit inversions.

 

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