Well, sure, it’s fine of the Treasury does *something* to stop tax inversions. But, that just isn’t enough. I know, I’m so naive–but it’s Congress that has to act.

As the folks at Citizens for Tax Justice just observed, new regulations slow and/or curb some of the inversions but:

The new rule will apply only if a U.S.-foreign merger results in a company that is 60 percent or more owned by the shareholders of the American partner to the merger. This seems to mean that a merger could result in a company that is 55 percent owned by the shareholders of the American partner to the merger (basically meaning the Americans have not given up control) and can claim to be foreign for tax purposes, and the new regulation would have no effect. This may be another reason why some inversions continue.

Ah, yeah, chances of Congress doing something are slim in the short-term. But, then, just accept that the tax base will continue to erode.