Govt seeks stiffer tax rules for overseas units: Report

The Obama administration will propose tighter tax rules for U.S. companies with overseas operations in an effort to cut back on tax avoidance, the Wall Street Journal reported on Thursday.

The proposal will be part of the administration's budget, due to be released March 4, the paper said.

Among other changes, the Journal said, the new rules would crack down on U.S. companies loading up on domestic debt and using that to fund investments in other countries.

For the full Wall Street Journal story click here.