U.S. 'Revenge Tax' on Foreign Investment Sparks Global Concerns
TL;DR Summary
Senate Republicans are concerned about the potential negative impact of a proposed retaliatory tax on foreign investment in the US included in President Trump's tax bill, fearing it could trigger a harmful tax war and affect domestic job creation, especially in manufacturing, leading to possible amendments.
- Republican senators face Wall Street worries over megabill’s retaliatory tax Semafor
- Who would pay America’s “revenge tax” on foreigners? The Economist
- Trump’s proposal to tax foreign investment draws global criticism, with fears it will ‘weaponize’ U.S. capital markets The Globe and Mail
- What is the ‘revenge tax’ in the US tax bill? Al Jazeera
- ‘Big, scary moment’? What’s up with Section 899 and its ‘retaliatory’ taxes? South China Morning Post
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