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Chuck Schumer
Treasury chief urges reforms to keep firms from dodging U.S. taxes
Treasury chief urges reforms to keep firms from dodging U.S. taxes

As Congress returned to work this week, Treasury Secretary Jacob J. Lew sent an urgent reminder to lawmakers: It is "imperative" they act now to reduce the number of corporations relocating overseas to avoid paying U.S. income taxes. In challenging Congress to stem the tax dodge, Lew said Monday that the Obama administration was close to deciding whether to issue an executive order that would make it "less economically appealing" to engage in what are known as inversions. This year, especially, huge multinational corporations including pharmaceutical firm AbbVie Inc. and Burger King Worldwide Inc. have agreed to buy smaller companies in foreign countries with much...

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