World Economy

Anti-Inversion Tax Plan

Anti-Inversion Tax PlanAnti-Inversion Tax Plan

A top US Senate Democrat’s proposal to limit future deductions for companies that moved tax addresses out of the US as many as 20 years ago would penalize dozens of so-called inversion deals. The proposal by Charles Schumer of New York, would reduce the amount of deductible interest for inverted companies to 25 percent of US taxable income from 50 percent, according to a draft obtained by Bloomberg News. The proposal isn’t final and is subject to change, said a Schumer aide who asked not to be named while discussing pending legislation.