- President Obama could act without congressional approval to reduce key incentives which allow U.S. corporations to complete tax inversions, says Stephen Shay, a former senior U.S. Treasury Department official.
- According to Shay, Obama can invoke a 1969 tax law to bypass congressional gridlock and restrict foreign tax-domiciled U.S companies from using inter-company loans and interest deductions to cut their U.S. tax bills.
- The recent rise of inversion deals is setting off alarm bells in Washington, and triggered Obama to urge lawmakers last week to act on anti-inversion proposals from him and other Democrats.
Tax inversion law can be passed without congressional approval
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