Obama Is Considering Bypassing Congress To Try To Stop Companies From Leaving America To Save On Taxes (MDT, SHPG, COV, ABBV)

The Obama administration said Tuesday it was reviewing potential administrative actions to limit stop companies' so-called tax inversion deals, after Sens. Dick Durbin (D-Illinois), Jack Reed (D-R.I.), and Elizabeth Warren (D-Massachusetts) sent a letter to President Barack Obama urging him to bypass Congress. Most simply, tax inversions are mergers in which companies based in this case the U.S. acquire a country based overseas and shift their tax base, allowing them to enjoy a lower tax rate on...