Senate Democrats urge Obama to stop inversions

|By:, SA News Editor

Three leading Democratic senators have urged President Obama to use executive orders to reduce or eliminate the the rising trend of U.S. corporations moving their tax domiciles overseas.

"Although we will continue to work toward a legislative solution to the problem, we urge you to use your authority to reduce or eliminate tax breaks associated with inversions," says Senator Richard Durbin, Jack Reed and Elizabeth Warren in a letter to the president.

The Treasury Department is also exploring ways to use its power to deter tax inversions and avoid Congress if necessary.