inversion

Senators Push Against Burger King Tax Inversion
Durbin, Reed, Warren Seek Executive Action to Combat 'Inversion'

Warren is among Democrats urging the president to take executive action on corporate inversions. (Tom Williams/CQ Roll Call File Photo)

A trio of liberal Senate Democrats want President Barack Obama to make use of his "pen and phone" to cut down on corporate "inversions."  

In a new letter, Sens. Richard J. Durbin of Illinois, Jack Reed of Rhode Island and Elizabeth Warren of Massachusetts seek executive action to reduce or eliminate tax preferences that come along with the business practice, in which a U.S. company will acquire an overseas company and then be based in the foreign country, at least on paper. The practice has increased in popularity as a tax-avoidance strategy.