Senate Finance Committee Chairman Ron Wyden, D-Ore., and Sen. Carl Levin, D-Mich., are looking at ways that would make it harder for corporations to emigrate to countries with lower taxes. One reason for the stepped up interest in this issue is Pfizer's plans to reincorporate in the U.K. if it is able to acquire AstraZeneca. Separately, the Treasury Department, in its 2015 fiscal year revenue proposals, suggested amending the rules that allow these transactions, called inversions, as early as Jan. 1, 2015.

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