Economics
Treasury Exploring Limits on Inversions Without Congress
A worker observes pig heart membrane, or pericardium, that will be used in the production of human heart valve replacements at the Medtronic Inc. assembly plant in Tijuana, Mexico, on Oct. 27, 2014.
Photographer: David Maung/BloombergThis article is for subscribers only.
The U.S. Treasury Department is examining whether it has the authority to bypass Congress and curb corporate inversions, reversing the administration’s prior insistence that it lacked power to act.
“Treasury is reviewing a broad range of authorities for possible administrative actions that could limit the ability of companies to engage in inversions,” the department said in a statement today.