The U.S. Treasury Department announced steps that will make it harder for U.S. companies to move their addresses outside the country to reduce their taxes, clamping down on the practice known as inversions.

President Barack Obama has been bashing companies that pursue offshore mergers to reduce taxes. He hasnt talked about the people behind the deals -- some of whom are his biggest donors.

Taxpayers would receive more time to make deductible charitable contributions in a bill passed today by the U.S. House of Representatives.

Washington is buzzing this summer about inversions, and the chatter has nothing to do with the weather.

Since Jan. 1, 2012, 14 companies have completed or announced deals that allowed them to cut their tax bills by moving their legal address outside the U.S. through a merger.

A proposal to revive lapsed tax breaks for corporate research, wind energy and teachers fell apart in the Senate, leaving their fate uncertain perhaps until the end of the year.

Senate Republicans probably will block more than $80 billion tax cuts because of their objections to how Democrats are running the Senate.

Senators will take their first major test vote today on a package of more than $80 billion in tax breaks, and the outcome is uncertain.