Obama tax inversion rules may overstep authority: U.S. lawmaker

By David Morgan WASHINGTON (Reuters) - President Barack Obama's proposed rules to stop U.S. companies from reincorporating abroad, if only on paper, to avoid U.S. income taxes appear to overstep legal authority, a top Republican lawmaker said on Friday. Representative Kevin Brady said his staff is scrutinizing the rules, which were unveiled last week by the U.S. Treasury Department. The new rules, intended to discourage tax "inversions," led to the collapse of U.S. drugmaker Pfizer Inc's $160 bi