Treasury Department sets its sights against inversions

Staff Writer
Columbus CEO

WASHINGTON (AP) — The Treasury Department is trying to make "tax inversions" — when U.S. companies move abroad for lower tax rates — less financially appealing.

It issued new regulations Monday meant to limit internal corporate borrowing that shifts profits out of the United States.

Treasury Secretary Jacob Lew says the proposals are designed to make such transactions less economically beneficial for companies. That could slow the pace of inversions.

But he says only legislation that must be passed by Congress could stop inversions.