NEW YORK (CNNMoney)

The Obama administration is looking at how it could act on its own to stop companies that want to slash their tax bills by moving overseas.

President Obama said officials are “reviewing all of our options” to act without congressional approval to stem the wave of so-called tax inversions. The trend has accelerated in recent years, backed by Wall Street enthusiasm for overseas tax rates that are lower than the highest U.S. rate of 35%.

Obama has previously voiced concern with inversions, calling them a blow to “economic patriotism.” But his administration has not gone further than call for Congress to act.  Read more