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Orrin Hatch
U.S. moves to curb tax bill reducing inversions
U.S. moves to curb tax bill reducing inversions

With Congress unable to agree on legislation to stem a surge of offshore corporate moves, the Obama administration took executive action Monday to discourage companies from shifting their headquarters abroad to reduce their U.S. tax bills. The steps — technical revisions to the tax code — will reduce the allure of so-called tax inversions, Treasury Secretary Jacob J. Lew said in announcing the long-awaited move. "This action will significantly diminish the ability of inverted companies to escape U.S. taxation," Lew said. "For some companies considering deals, today's action will mean that inversions no longer make economic sense." The moves are only...

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